Sagen MI Canada Inc. Reports Second Quarter 2025 Results and Declares Preferred Share Dividend Français
Second Quarter 2025 Financial Results
Net income of $111 million was $40 million lower than the same quarter in the prior year, primarily due to lower net insurance service result and lower investment income.
Preferred Dividends
The Company also announced today that its Board of Directors had declared a dividend of $0.3375 per Class A preferred share, Series 1, payable on September 29, 2025, to holders of record at the close of business on September 15, 2025.
Sagen MI Canada Inc. designates any and all dividends paid or deemed for Canadian federal, provincial or territorial income tax purposes to be paid as "eligible dividends", unless indicated otherwise in respect of dividends paid subsequent to this notification, and hereby notifies all recipients of such dividends of this designation.
Detailed Operating Results
For more information on the Company's operating results, please refer to the Company's Management's Discussion & Analysis as posted on SEDAR+ and available at www.sedarplus.com.
This Press Release, as well as the Company's second quarter 2025 unaudited condensed consolidated interim Financial Statements and Management's Discussion & Analysis are also posted on the Investor section of the Company's website, https://www.sagen.ca/about/investor-relations. Investors are encouraged to review all of these materials.
About Sagen MI Canada Inc.
Sagen MI Canada Inc., operating through its wholly owned subsidiary, Sagen Mortgage Insurance Company Canada (doing business as Sagen TM), is the largest private sector residential mortgage insurer in Canada. The Company provides mortgage default insurance to Canadian residential mortgage lenders, making homeownership more accessible to first-time homebuyers. Sagen differentiates itself through customer service excellence, innovative processing technology, and a robust risk management framework. For more than two decades, the Company has supported the housing market by providing thought leadership and a focus on the safety and soundness of the mortgage finance system. As at June 30, 2025, the Company had $6.7 billion total assets and $2.8 billion shareholders' equity. Find out more at www.sagen.ca.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Global News
an hour ago
- Global News
Canada's trade with U.S. still ‘quite weak' despite June rise: economists
New data shows there was an increase in Canadian exports to its southern neighbour in June even amid ongoing U.S. tariffs, but economists say one month is too soon to say trade is rising with the Americans. The data, released Tuesday, shows exports to the U.S. increased 3.1 per cent in June after four consecutive months of decreases. Statistics Canada notes, however, exports were still down 12.5 per cent compared to June 2024. BMO economist Shelly Kaushik said in an interview that trade data can be volatile on a monthly basis. 'The data is also very highly susceptible to revision. That's something to keep in mind in general, but also especially when there are so many announcements in a lot of swings, we see things like tariff frontrunning impacting the data a lot on a monthly basis,' she said. Story continues below advertisement But it's not just products being sent to the U.S. that is on the rise. Imports from the U.S. were up 2.6 per cent in June — the first increase after three consecutive monthly decreases. According to Statistics Canada, the increase in imports was in large part due to the import of a module for an offshore oil project. As a result of exports rising more than imports, Canada's trade surplus with the U.S. rose from $3.6 billion in May to $3.9 billion in June. Kaushik said as April and May were fairly 'depressed' in reaction to the tariffs, so while June may have seen an increase it doesn't mean it's a substantial change. 5:35 Trump's Tariffs: Can an agreement still be reached? 'Increasing just a little bit from very, very weak levels still implies quite weak,' she said. Story continues below advertisement Canada continues to face a range of tariffs from the U.S. amid President Donald Trump's ongoing trade war. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy The U.S. has imposed a 50 per cent tariff on steel and aluminum imports from Canada, as well as 25 per cent duties on the automobile industry and certain copper products. Last Friday, the U.S. also placed a 35 per cent tariff on Canadian goods on Friday, though the White House confirmed products under the Canada-United States-Mexico agreement (CUSMA) would remain exempt from the higher tariff. The White House added that goods transshipped through other countries to avoid the 35 per cent tariff will instead be charged a tariff of 40 per cent. 7:25 Trump tariffs could be less painful than expected, expert says RBC assistant chief economist Nathan Janzen said that exemption is more important than an increase in trade. Story continues below advertisement 'I think the good news there is that most of our exports to the United States still have been able to access that market it appears duty-free through an exemption from duties for products that are compliant with the USMCA (CUSMA) trade agreement,' he said. Janzen said the U.S. census bureau found 92 per cent of Canadian exports to the U.S. crossed the border duty-free in June — an increase from 91 per cent in May and 89 per cent in April. Janzen, in a report published Tuesday, also noted the average effective tariff rate on imports from Canada remains one of the lowest on trading partners at 2.4 per cent. By comparison, the average U.S. rate on all imports was 8.9 per cent. However, he cautioned that rate will rise due to the newly-imposed 35 per cent tariff yet adds the increase will still only apply to a 'relatively small share' of non-CUSMA compliant exports. What could impact Canada on a wider scale, Janzen said, is how the U.S. import market could be impacted if bigger tariffs are imposed. 'If U.S. tariff hikes were so large globally that it hurts the U.S., particularly the very trade sensitive U.S. industrial sector, then if that happens that obviously has negative spillovers for Canada just because our industrial sector is so closely integrated with that of the United States,' Janzen said. Story continues below advertisement While Statistics Canada noted an increase in trade with the U.S., it also found exports to countries other than the U.S. dropped 4.1 per cent in June, after reaching a record high in May. It noted, however, compared to June 2024 exports to other countries were up 14.7 per cent. Overall, Canada's trade deficit with the world widened to $5.9 billion in June, up from $5.5 billion in May.
Toronto Star
an hour ago
- Toronto Star
Prime Minister Carney announces new support measures for softwood lumber industry
KELOWNA - Prime Minister Mark Carney's government is preparing financial supports for the forestry sector as the U.S. ratchets up duties on Canadian softwood lumber. Carney is promising an aid package for the industry that includes $700 million in loan guarantees and $500 million for long-term supports to help companies diversify export markets and develop their products.
Cision Canada
an hour ago
- Cision Canada
Prime Minister Carney announces new measures to transform Canada's softwood lumber industry
West Kelowna, BC, Aug. 5, 2025 /CNW/ - The global trade landscape has fundamentally changed. To meet this moment, Canada's new government is developing a comprehensive industrial strategy. It will invest in domestic production, develop Canadian expertise, support our companies to retool and reinvest, and help industries pivot to a growing Canadian market and those of new, reliable trading partners around the world. As part of that strategy, the Prime Minister, Mark Carney, today announced a series of new measures to help the softwood lumber industry transform to remain competitive. These measures will help unlock the full potential of the industry as we scale up housing and major infrastructure construction and drive long-term economic growth, rooted in Canadian resources and innovation. Canada's new government will: Provide up to $700 million in loan guarantees to address the immediate pressures facing the softwood lumber sector. This will ensure companies have the financing and credit support they need to maintain and restructure their operations during this period of transformation. Invest $500 million to supercharge product and market diversification to make the industry more competitive for the long-term. As technology changes the way we build and demand grows for softwood lumber, this will increase domestic processing and value-added production. This investment will also include initiatives that support Indigenous-led forestry business development and diversification. Build Canadian by prioritizing Canadian materials in construction and changing federal procurement processes to require companies contracting with the federal government to source Canadian lumber. As the government delivers on its mandate to build major infrastructure projects faster and to increase the pace of homebuilding to nearly 500,000 new homes per year over the next decade, we will ensure Canadian lumber and other Canadian materials are prioritized in that construction. Once established, Build Canada Homes will provide financing to innovative private sector home builders in Canada that use Canadian technologies and resources, like mass timber and softwood lumber. Diversify international markets for Canada's sustainably sourced forest products. We will launch a new initiative to diversify exports of Canadian wood products, including the reinvigoration of federal programming to expand offshore markets for sustainable, innovative, high-quality products. In fast-growing regions with rising demand for housing and other buildings, we will promote Canadian lumber as an affordable, sustainable solution. Provide $50 million for upskilling, reskilling, and income supports for more than 6,000 affected softwood lumber workers through the Labour Market Development Agreements. This investment builds on temporary enhancements to the Employment Insurance (EI) program and the EI Work-Sharing program. Through this investment, we will equip workers with the tools and training they need to stay competitive – helping them adapt to new technologies, strengthen their expertise, and excel in changing industries. Canada's economy is shifting from reliance to resilience. During this time of transformation, these measures will ensure Canada's softwood lumber industry and workers are able to adapt and emerge even stronger. Quotes "The forest sector is a pillar of Canada's economy. As we shift from reliance to resilience, Canada's new government will ensure the industry can transform to seize new opportunities in Canadian and international markets. In the face of a changing global landscape, we are focused on what we can control – building Canada strong with Canadian expertise, using Canadian lumber." — The Rt. Hon. Mark Carney, Prime Minister of Canada "Canada's forestry sector is a cornerstone of our economy. It supports nearly 200,000 good jobs in both urban and rural communities and accounts for billions in contribution to Canada's GDP and exports every year. Through the actions announced today and existing supports, we are committed to protecting this key industry and the workers who power it." — The Hon. François-Philippe Champagne, Minister of Finance and National Revenue "Today's announcement showcases the Government of Canada's steadfast commitment to supporting the Canadian economy and the workers who keep it strong. By bolstering this key industry and ensuring resilient supply chains, we stand with the industry, its workers, and communities to keep Canada a trusted global trade partner." — The Hon. Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions "The world is changing, and Canada must be ready to meet the challenges of our times. That's why the government is taking action to support the workers and industries that build Canada – day in and day out. By strengthening what we have here at home and standing up for Canada, we're making sure our country stays strong, competitive, and ready to lead." — The Hon. Patty Hajdu, Minister of Jobs and Families and Minister responsible for the Federal Economic Development Agency for Northern Ontario "Canada's natural resources are not only a cornerstone of our national identity – they are the foundation of our economy. Protecting and modernizing our resource industries in the face of tariffs and global uncertainty is critical to safeguarding Canadian jobs and communities and ensuring a prosperous and strong future." — The Hon. Tim Hodgson, Minister of Energy and Natural Resources Quick facts Canada's forest sector is a major economic driver, supporting nearly 200,000 workers, including over 11,000 Indigenous Peoples, and contributing more than $20 billion to our GDP. In 2024, 66% of Canada's total softwood lumber production was exported, and of that, nearly 90% was exported to the U.S. On July 25, 2025, the U.S. Department of Commerce doubled duties on softwood lumber products from Canada, with further increases expected later this month. New and innovative forest products such as engineered timber, biofuels, and forest product-based biodegradable packaging materials are helping Canada reach net-zero by 2050 and enabling more sustainable, efficient housing solutions. Canada's new government will double the pace of homebuilding to almost 500,000 new homes a year over the next decade. That alone will double the use of Canadian softwood lumber in residential construction – an increase of almost 2 billion board feet – and it will double demand for structural panels – an increase of almost 1 billion square feet. Build Canada Homes, once established, will prioritize the use of Canadian-made materials – including lumber – to accelerate housing construction while supporting Canadian workers and industries. This document is also available at
