Desjardins: $ 253 million in dividends for the year 2018
The Desjardins group has generated a net surplus before member dividends of 2.33 billion $ last year, up about 8.4% from 2017, while almost all sectors have posted earnings growth.
Making the point on its annual results and fourth quarter, the co-op has also indicated that the rebate is paid to its members would be $ 253 million, or $ 51 million more than the previous year.
On their side, operating revenues increased 7.2 %, to $ 16,58 $billion.
The net surplus of the last fiscal year shall in particular take into account a gain, net of taxes of $ 129 million $ completed in the second quarter arising from the creation of Heritage Aviso. Excluding this non-recurring items, net earnings before member dividends was $ 2.2 billion, compared to $ 1.9 billion at the end of fiscal 2017.
In the fourth quarter, the net surplus before patronage dividends to members had been of 578 million dollars, up 34.7 % year on year.
Desjardins has attributed this performance to an increase in net interest income of the sector of services to individuals and businesses, which was partially offset by a loss more importance in the division of property and casualty insurance.
For the three-month period ended December 31, operating revenues were $ 4.16 billion $, compared to 3,73 billion $ during the fourth quarter of fiscal year 2017.