Major Estimate Revision • May 24
Consensus EPS estimates fall by 19% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CA$99.5m to CA$90.0m. EPS estimate also fell from CA$7.88 per share to CA$6.42 per share. Net income forecast to shrink 11% next year vs 9.5% growth forecast for Capital Markets industry in Canada . Consensus price target down from CA$170 to CA$159. Share price fell 6.8% to CA$115 over the past week. New Risk • May 22
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 3.8% per year for the foreseeable future. Minor Risk Dividend is not well covered by earnings (98% payout ratio). Reported Earnings • May 17
First quarter 2026 earnings released: EPS: CA$1.41 (vs CA$2.25 in 1Q 2025) First quarter 2026 results: EPS: CA$1.41 (down from CA$2.25 in 1Q 2025). Revenue: CA$22.1m (down 13% from 1Q 2025). Net income: CA$3.38m (down 37% from 1Q 2025). Profit margin: 15% (down from 21% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 2 years compared to a 42% decline forecast for the Capital Markets industry in Canada. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Declared Dividend • May 11
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 20th May 2026 Payment date: 29th May 2026 Dividend yield will be 5.9%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (87% earnings payout ratio) but not adequately covered by cash flows (99% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 9.3% over the next 2 years. Since a fall of 3.0% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk. Announcement • May 08
Olympia Financial Group Inc. announces Monthly dividend, payable on May 29, 2026 Olympia Financial Group Inc. announced Monthly dividend of CAD 0.6000 per share payable on May 29, 2026, ex-date on May 20, 2026 and record date on May 20, 2026. Declared Dividend • Apr 10
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 21st April 2026 Payment date: 30th April 2026 Dividend yield will be 5.9%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (87% earnings payout ratio) but not adequately covered by cash flows (99% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 9.3% over the next 2 years. Since a fall of 3.0% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk. Announcement • Apr 09
Olympia Financial Group Inc. announces Monthly dividend, payable on April 30, 2026 Olympia Financial Group Inc. announced Monthly dividend of CAD 0.6000 per share payable on April 30, 2026, ex-date on April 21, 2026 and record date on April 21, 2026. Announcement • Mar 25
Shift Connect Ltd. entered into an agreement to acquire Olympia Currency And Global Payments Inc. from Olympia Financial Group Inc. (TSX:OLY). Shift Connect Ltd. entered into an agreement to acquire Olympia Currency And Global Payments Inc. from Olympia Financial Group Inc. (TSX:OLY) on March 24, 2026.
The transaction is subject to approval by regulatory board / committee. The expected completion of the transaction is March 31, 2026. New Risk • Mar 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 4.6% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (99% cash payout ratio). Declared Dividend • Mar 09
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 20th March 2026 Payment date: 31st March 2026 Dividend yield will be 5.8%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (87% earnings payout ratio) but not adequately covered by cash flows (99% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Announcement • Mar 07
Olympia Financial Group Inc. announces Monthly dividend, payable on March 31, 2026 Olympia Financial Group Inc. announced Monthly dividend of CAD 0.6000 per share payable on March 31, 2026, ex-date on March 20, 2026 and record date on March 20, 2026. Reported Earnings • Mar 02
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: CA$8.25 (down from CA$9.94 in FY 2024). Revenue: CA$98.9m (down 3.9% from FY 2024). Net income: CA$19.9m (down 17% from FY 2024). Profit margin: 20% (down from 23% in FY 2024). Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 4.7%. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Feb 13
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 18th February 2026 Payment date: 27th February 2026 Dividend yield will be 6.0%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (81% earnings payout ratio) and cash flows (89.6% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 10% over the next year. A fall of 10% would increase the payout ratio to a potentially unsustainable range, which means the dividend may be at risk. Announcement • Feb 07
Olympia Financial Group Inc. Declares Cash Dividend for the Month of February 2026, Payable on February 27, 2026 Olympia Financial Group Inc. announced that its Board of Directors has declared a monthly cash dividend on its common shares of $0.60 per common share. The dividend will be payable on February 27, 2026, to shareholders on record as at February 18, 2026. Recent Insider Transactions • Feb 07
Insider recently bought CA$59k worth of stock On the 6th of February, Neil McCullagh bought around 512 shares on-market at roughly CA$115 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold CA$431k more in shares than they bought in the last 12 months. Declared Dividend • Jan 14
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 21st January 2026 Payment date: 30th January 2026 Dividend yield will be 6.3%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (81% earnings payout ratio) and cash flows (89.6% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 10% over the next year. A fall of 10% would increase the payout ratio to a potentially unsustainable range, which means the dividend may be at risk. Announcement • Jan 09
Olympia Financial Group Inc. Declares Monthly Cash Dividend on Its Common Shares for January 2026, Payable on January 30, 2026 Olympia Financial Group Inc. announced that its Board of Directors has declared a monthly cash dividend on its common shares of $0.60 per common share. The dividend will be payable on January 30, 2026, to shareholders on record as at January 21, 2026. Declared Dividend • Dec 10
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 18th December 2025 Payment date: 31st December 2025 Dividend yield will be 6.4%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (81% earnings payout ratio) and cash flows (89.6% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 10% over the next year. A fall of 10% would increase the payout ratio to a potentially unsustainable range, which means the dividend may be at risk. Announcement • Dec 06
Olympia Financial Group Inc. Declares Monthly Cash Dividend on Its Common Shares for December 2025, Payable on December 31, 2025 Olympia Financial Group Inc. announces that its Board of Directors has declared a monthly cash dividend on its common shares for December 2025 of $0.60 per common share. The dividend will be payable on December 31, 2025, to shareholders on record as at December 18, 2025. Recent Insider Transactions • Nov 25
Independent Director recently sold CA$273k worth of stock On the 19th of November, Anthony Lanzl sold around 2k shares on-market at roughly CA$114 per share. This transaction amounted to 2.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$580k more than they bought in the last 12 months. Major Estimate Revision • Nov 21
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CA$102.8m to CA$98.5m. EPS estimate also fell from CA$9.23 per share to CA$8.14 per share. Net income forecast to shrink 13% next year vs 13% growth forecast for Capital Markets industry in Canada . Consensus price target down from CA$181 to CA$167. Share price rose 3.1% to CA$116 over the past week. Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: CA$1.93 (vs CA$2.61 in 3Q 2024) Third quarter 2025 results: EPS: CA$1.93 (down from CA$2.61 in 3Q 2024). Revenue: CA$23.8m (down 5.5% from 3Q 2024). Net income: CA$4.63m (down 26% from 3Q 2024). Profit margin: 20% (down from 25% in 3Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to stay flat during the next 2 years compared to a 26% decline forecast for the Capital Markets industry in Canada. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Nov 12
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 19th November 2025 Payment date: 28th November 2025 Dividend yield will be 5.9%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (75% earnings payout ratio) and cash flows (76% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 5.3% over the next year. However, it would need to fall by 17% to increase the payout ratio to a potentially unsustainable range. Announcement • Nov 11
Olympia Financial Group Inc. announces Monthly dividend, payable on November 28, 2025 Olympia Financial Group Inc. announced Monthly dividend of CAD 0.6000 per share payable on November 28, 2025, ex-date on November 19, 2025 and record date on November 19, 2025. Upcoming Dividend • Oct 18
Upcoming dividend of CA$0.60 per share Eligible shareholders must have bought the stock before 22 October 2025. Payment date: 31 October 2025. Payout ratio is a comfortable 75% and the cash payout ratio is 76%. Trailing yield: 6.6%. Within top quartile of Canadian dividend payers (5.9%). Higher than average of industry peers (1.9%). Declared Dividend • Oct 09
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 22nd October 2025 Payment date: 31st October 2025 Dividend yield will be 6.4%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (75% earnings payout ratio) and cash flows (76% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 5.3% over the next year. However, it would need to fall by 17% to increase the payout ratio to a potentially unsustainable range. Announcement • Oct 08
Olympia Financial Group Inc. announces Monthly dividend, payable on October 31, 2025 Olympia Financial Group Inc. announced Monthly dividend of CAD 0.6000 per share payable on October 31, 2025, ex-date on October 22, 2025 and record date on October 22, 2025. Declared Dividend • Sep 11
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 18th September 2025 Payment date: 29th September 2025 Dividend yield will be 5.5%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (75% earnings payout ratio) and cash flows (76% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 5.3% over the next year. However, it would need to fall by 17% to increase the payout ratio to a potentially unsustainable range. Announcement • Sep 10
Olympia Financial Group Inc. announces Monthly dividend, payable on September 29, 2025 Olympia Financial Group Inc. announced Monthly dividend of CAD 0.6000 per share payable on September 29, 2025, ex-date on September 18, 2025 and record date on September 18, 2025. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: CA$2.25 (vs CA$2.45 in 2Q 2024) Second quarter 2025 results: EPS: CA$2.25 (down from CA$2.45 in 2Q 2024). Revenue: CA$25.6m (down 2.6% from 2Q 2024). Net income: CA$5.42m (down 7.9% from 2Q 2024). Profit margin: 21% (down from 22% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 2 years compared to a 32% decline forecast for the Capital Markets industry in Canada. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 28% per year. Declared Dividend • Aug 13
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 20th August 2025 Payment date: 29th August 2025 Dividend yield will be 5.6%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (73% earnings payout ratio) and cash flows (70% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 8.6% over the next year. However, it would need to fall by 18% to increase the payout ratio to a potentially unsustainable range. Announcement • Aug 12
Olympia Financial Group Inc. announces Monthly dividend, payable on August 29, 2025 Olympia Financial Group Inc. announced Monthly dividend of CAD 0.6000 per share payable on August 29, 2025, ex-date on August 20, 2025 and record date on August 20, 2025. Declared Dividend • Jul 14
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 22nd July 2025 Payment date: 31st July 2025 Dividend yield will be 5.9%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (73% earnings payout ratio) and cash flows (70% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 8.6% over the next year. However, it would need to fall by 18% to increase the payout ratio to a potentially unsustainable range. Announcement • Jul 10
Olympia Financial Group Inc. Announces July Dividend, Payable on July 31, 2025 Olympia Financial Group Inc. announced that its Board of Directors has declared a monthly cash dividend on its common shares of $0.60 per common share. The dividend will be payable on July 31, 2025, to shareholders on record as at July 22, 2025. Declared Dividend • Jun 09
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 19th June 2025 Payment date: 30th June 2025 Dividend yield will be 6.4%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (73% earnings payout ratio) and cash flows (70% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 8.6% over the next year. However, it would need to fall by 18% to increase the payout ratio to a potentially unsustainable range. Announcement • Jun 05
Olympia Financial Group Inc. Announces June Dividend, Payable on June 30, 2025 Olympia Financial Group Inc. announced that its Board of Directors has declared a monthly cash dividend on its common shares of $0.60 per common share. The dividend will be payable on June 30, 2025, to shareholders on record as at June 19, 2025. The ex-dividend date is also June 19, 2025. Reported Earnings • May 10
First quarter 2025 earnings released First quarter 2025 results: Net income: (down CA$5.74m from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Declared Dividend • May 09
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 21st May 2025 Payment date: 30th May 2025 Dividend yield will be 6.8%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (72% earnings payout ratio) and cash flows (84% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Announcement • May 08
Olympia Financial Group Inc. announces Monthly dividend, payable on May 30, 2025 Olympia Financial Group Inc. announced Monthly dividend of CAD 0.6000 per share payable on May 30, 2025, ex-date on May 21, 2025 and record date on May 21, 2025. Announcement • Apr 14
Olympia Financial Group Inc., Annual General Meeting, Jun 18, 2025 Olympia Financial Group Inc., Annual General Meeting, Jun 18, 2025. Location: alberta, calgary Canada Declared Dividend • Apr 11
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 17th April 2025 Payment date: 30th April 2025 Dividend yield will be 6.9%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (72% earnings payout ratio) and cash flows (84% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 14% over the next 2 years. However, it would need to fall by 20% to increase the payout ratio to a potentially unsustainable range. Announcement • Apr 04
Olympia Financial Group Inc. Declares Monthly Cash Dividend, Payable on April 30, 2025 Olympia Financial Group Inc. announced that its Board of Directors has declared a monthly cash dividend on its common shares of $0.60 per common share. The dividend will be payable on April 30, 2025, to shareholders on record as at April 17, 2025. The ex-dividend date is also April 17, 2025. Olympia Financial Group Inc. designates the entire amount of this taxable dividend to be an "eligible dividend" for purposes of the Income Tax Act (Canada), as amended from time to time. Recent Insider Transactions • Apr 02
Insider recently sold CA$251k worth of stock On the 28th of March, Neil McCullagh sold around 2k shares on-market at roughly CA$106 per share. This transaction amounted to 38% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$494k more than they bought in the last 12 months. Declared Dividend • Mar 10
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 20th March 2025 Payment date: 31st March 2025 Dividend yield will be 7.1%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (72% earnings payout ratio) and cash flows (84% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 14% over the next 2 years. However, it would need to fall by 20% to increase the payout ratio to a potentially unsustainable range. Announcement • Mar 08
Olympia Financial Group Inc. announces Monthly dividend, payable on March 31, 2025 Olympia Financial Group Inc. announced Monthly dividend of CAD 0.6000 per share payable on March 31, 2025, ex-date on March 20, 2025 and record date on March 20, 2025. New Risk • Mar 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 7.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 7.8% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Significant insider selling over the past 3 months (CA$194k sold). Reported Earnings • Mar 02
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: CA$9.94 (down from CA$9.96 in FY 2023). Revenue: CA$102.9m (up 3.1% from FY 2023). Net income: CA$23.9m (flat on FY 2023). Profit margin: 23% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.4%. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 10
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 19th February 2025 Payment date: 28th February 2025 Dividend yield will be 6.5%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (71% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 11% over the next year. However, it would need to fall by 21% to increase the payout ratio to a potentially unsustainable range. Announcement • Feb 08
Olympia Financial Group Inc Declares Monthly Cash Dividend, Payable on February 28, 2025 Olympia Financial Group Inc. announced that its Board of Directors has declared a monthly cash dividend on its common shares of $0.60 per common share. The dividend will be payable on February 28, 2025, to shareholders on record as at February 19, 2025. The ex-dividend date is also February 19, 2025. Recent Insider Transactions • Feb 07
Independent Director recently sold CA$172k worth of stock On the 5th of February, Anthony Lanzl sold around 2k shares on-market at roughly CA$108 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$232k more than they bought in the last 12 months. Declared Dividend • Jan 10
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 22nd January 2025 Payment date: 31st January 2025 Dividend yield will be 6.7%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (71% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 11% over the next year. However, it would need to fall by 21% to increase the payout ratio to a potentially unsustainable range. Announcement • Jan 07
Olympia Financial Group Inc. Declares Monthly Cash Dividend for January, Payable on January 31, 2025 Olympia Financial Group Inc. announced that its Board of Directors has declared a monthly cash dividend on its common shares of $0.60 per common share. The dividend will be payable on January 31, 2025, to shareholders on record as at January 22, 2025. The ex-dividend date is also January 22, 2025. Declared Dividend • Dec 13
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 18th December 2024 Payment date: 31st December 2024 Dividend yield will be 6.7%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (71% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 11% over the next year. However, it would need to fall by 21% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: CA$2.61 (vs CA$2.58 in 3Q 2023) Third quarter 2024 results: EPS: CA$2.61 (up from CA$2.58 in 3Q 2023). Revenue: CA$25.2m (flat on 3Q 2023). Net income: CA$6.28m (flat on 3Q 2023). Profit margin: 25% (in line with 3Q 2023). Revenue is expected to decline by 3.5% p.a. on average during the next 2 years, while revenues in the Capital Markets industry in Canada are expected to grow by 37%. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Declared Dividend • Nov 11
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 20th November 2024 Payment date: 29th November 2024 Dividend yield will be 7.3%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (68% earnings payout ratio) and cash flows (73% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 10% over the next year. However, it would need to fall by 24% to increase the payout ratio to a potentially unsustainable range. Recent Insider Transactions • Oct 24
Insider recently sold CA$133k worth of stock On the 23rd of October, Neil McCullagh sold around 1k shares on-market at roughly CA$96.44 per share. This transaction amounted to 31% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought CA$907k more than they sold in the last 12 months. Declared Dividend • Oct 11
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 22nd October 2024 Payment date: 31st October 2024 Dividend yield will be 7.2%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (68% earnings payout ratio) and cash flows (73% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 10% over the next year. However, it would need to fall by 24% to increase the payout ratio to a potentially unsustainable range. Announcement • Oct 08
Olympia Financial Group Inc. Announces Monthly Dividend for October 2024, Payable on October 31, 2024 Olympia Financial Group Inc. announced that its Board of Directors has declared a monthly cash dividend on its common shares of $0.60 per common share. The dividend will be payable on October 31, 2024, to shareholders on record as at October 22, 2024. The ex-dividend date is also October 22, 2024. Declared Dividend • Sep 11
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 18th September 2024 Payment date: 27th September 2024 Dividend yield will be 7.2%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (68% earnings payout ratio) and cash flows (73% cash payout ratio). The dividend has increased by an average of 9.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 10% over the next year. However, it would need to fall by 24% to increase the payout ratio to a potentially unsustainable range. Major Estimate Revision • Aug 28
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CA$104.6m to CA$101.6m. EPS estimate also fell from CA$9.99 per share to CA$8.87 per share. Net income forecast to shrink 14% next year vs 9.4% growth forecast for Capital Markets industry in Canada . Consensus price target broadly unchanged at CA$134. Share price fell 5.0% to CA$107 over the past week. Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: CA$2.45 (vs CA$2.48 in 2Q 2023) Second quarter 2024 results: EPS: CA$2.45 (down from CA$2.48 in 2Q 2023). Revenue: CA$26.2m (up 4.6% from 2Q 2023). Net income: CA$5.89m (down 1.3% from 2Q 2023). Profit margin: 22% (down from 24% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 3.9% p.a. on average during the next 2 years, while revenues in the Capital Markets industry in Canada are expected to grow by 26%. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Declared Dividend • Aug 09
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 21st August 2024 Payment date: 30th August 2024 Dividend yield will be 7.2%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (63% earnings payout ratio) and cash flows (76% cash payout ratio). The dividend has increased by an average of 9.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 10.0% over the next year. However, it would need to fall by 30% to increase the payout ratio to a potentially unsustainable range. Announcement • Aug 08
Olympia Financial Group Inc. announces Monthly dividend, payable on August 30, 2024 Olympia Financial Group Inc. announced Monthly dividend of CAD 0.6000 per share payable on August 30, 2024, ex-date on August 21, 2024 and record date on August 21, 2024. Declared Dividend • Jul 10
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 22nd July 2024 Payment date: 31st July 2024 Dividend yield will be 7.3%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (63% earnings payout ratio) and cash flows (76% cash payout ratio). The dividend has increased by an average of 9.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 10.0% over the next year. However, it would need to fall by 30% to increase the payout ratio to a potentially unsustainable range. Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Independent Director Paul Kelly was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Jun 10
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 19th June 2024 Payment date: 28th June 2024 Dividend yield will be 6.8%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (63% earnings payout ratio) and cash flows (76% cash payout ratio). The dividend has increased by an average of 9.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 10.0% over the next year. However, it would need to fall by 30% to increase the payout ratio to a potentially unsustainable range. Announcement • Jun 08
Olympia Financial Group Inc. Declares Monthly Cash Dividend, Payable on June 28, 2024 Olympia Financial Group Inc. announced that its Board of Directors has declared a monthly cash dividend on its common shares of $0.60 per common share. The dividend will be payable on June 28, 2024, to shareholders on record as at June 19, 2024. The ex-dividend date is June 19, 2024. Reported Earnings • May 13
First quarter 2024 earnings released: EPS: CA$2.39 (vs CA$2.17 in 1Q 2023) First quarter 2024 results: EPS: CA$2.39 (up from CA$2.17 in 1Q 2023). Revenue: CA$25.8m (up 9.4% from 1Q 2023). Net income: CA$5.74m (up 9.8% from 1Q 2023). Profit margin: 22% (in line with 1Q 2023). Revenue is expected to decline by 4.1% p.a. on average during the next 2 years, while revenues in the Capital Markets industry in Canada are expected to grow by 26%. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Declared Dividend • May 09
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 21st May 2024 Payment date: 31st May 2024 Dividend yield will be 6.1%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (58% earnings payout ratio) but not adequately covered by cash flows (94% cash payout ratio). The dividend has increased by an average of 9.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 12% over the next 2 years. However, it would need to fall by 35% to increase the payout ratio to a potentially unsustainable range. Announcement • Apr 13
Olympia Financial Group Inc., Annual General Meeting, Jun 17, 2024 Olympia Financial Group Inc., Annual General Meeting, Jun 17, 2024. Declared Dividend • Apr 08
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 18th April 2024 Payment date: 30th April 2024 Dividend yield will be 6.3%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (58% earnings payout ratio) but not adequately covered by cash flows (94% cash payout ratio). The dividend has increased by an average of 9.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 12% over the next 2 years. However, it would need to fall by 35% to increase the payout ratio to a potentially unsustainable range. Announcement • Apr 04
Olympia Financial Group Inc. Declares Monthly Cash Dividend, Payable on April 30, 2024 Olympia Financial Group Inc. that its Board of Directors has declared a monthly cash dividend on its common shares of $0.60 per common share. The dividend will be payable on April 30, 2024, to shareholders on record as at April 19, 2024. The ex-dividend date is April 18, 2024. Declared Dividend • Mar 11
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 18th March 2024 Payment date: 28th March 2024 Dividend yield will be 6.1%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (58% earnings payout ratio) but not adequately covered by cash flows (94% cash payout ratio). The dividend has increased by an average of 9.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 12% over the next 2 years. However, it would need to fall by 35% to increase the payout ratio to a potentially unsustainable range. New Risk • Mar 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 6.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 6.1% per year for the foreseeable future. High level of non-cash earnings (23% accrual ratio). Minor Risk Dividend is not well covered by cash flows (94% cash payout ratio). Reported Earnings • Mar 03
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: CA$9.96 (up from CA$5.88 in FY 2022). Revenue: CA$99.8m (up 38% from FY 2022). Net income: CA$24.0m (up 69% from FY 2022). Profit margin: 24% (up from 20% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.2%. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 10
Dividend of CA$0.60 announced Shareholders will receive a dividend of CA$0.60. Ex-date: 16th February 2024 Payment date: 29th February 2024 Dividend yield will be 5.6%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (52% earnings payout ratio) but not covered by cash flows (167% cash payout ratio). The dividend has increased by an average of 9.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Announcement • Feb 06
Olympia Financial Group Inc. Declares Monthly Cash Dividend , Payable on February 29, 2024 Olympia Financial Group Inc. announced that its Board of Directors has declared a monthly cash dividend on its common shares of $0.60 per common share. The dividend will be payable on February 29, 2024, to shareholders on record as at February 20, 2024. The ex-dividend date is February 16, 2024. Upcoming Dividend • Jan 12
Upcoming dividend of CA$0.60 per share at 7.6% yield Eligible shareholders must have bought the stock before 19 January 2024. Payment date: 31 January 2024. Payout ratio is a comfortable 52% but the company is paying out more than the cash it is generating. Trailing yield: 7.6%. Within top quartile of Canadian dividend payers (6.5%). Higher than average of industry peers (1.8%). Announcement • Jan 05
Olympia Financial Group Inc. Declares Monthly Cash Dividend , Payable on January 31, 2024 Olympia Financial Group Inc. declared a monthly cash dividend on its common shares of $0.60 per common share. The dividend will be payable on January 31, 2024, to shareholders on record as at January 22, 2024. The ex-dividend date is January 19, 2024. Recent Insider Transactions • Jan 02
Chairman recently bought CA$86k worth of stock On the 29th of December, Richard Skauge bought around 900 shares on-market at roughly CA$96.00 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth CA$588k. Richard has been a buyer over the last 12 months, purchasing a net total of CA$183k worth in shares. Announcement • Dec 07
Olympia Financial Group Inc Declares Monthly Cash Dividend, Payable on December 29, 2023 Olympia Financial Group Inc. announced that its Board of Directors has declared a monthly cash dividend on its common shares of $0.60 per common share. The dividend will be payable on December 29, 2023 to shareholders on record as at December 18, 2023. The ex-dividend date is December 15, 2023. Recent Insider Transactions • Nov 24
Independent Director recently bought CA$588k worth of stock On the 17th of November, Anthony Lanzl bought around 7k shares on-market at roughly CA$86.46 per share. This transaction amounted to 8.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$590k more in shares than they have sold in the last 12 months. Upcoming Dividend • Nov 13
Upcoming dividend of CA$0.60 per share at 8.5% yield Eligible shareholders must have bought the stock before 20 November 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 33% but the company is paying out more than the cash it is generating. Trailing yield: 8.5%. Within top quartile of Canadian dividend payers (6.7%). Higher than average of industry peers (2.1%). Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: CA$2.58 (vs CA$1.65 in 3Q 2022) Third quarter 2023 results: EPS: CA$2.58 (up from CA$1.65 in 3Q 2022). Revenue: CA$25.4m (up 35% from 3Q 2022). Net income: CA$6.22m (up 56% from 3Q 2022). Profit margin: 25% (up from 21% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 12
Upcoming dividend of CA$0.60 per share at 7.5% yield Eligible shareholders must have bought the stock before 19 October 2023. Payment date: 31 October 2023. Payout ratio is a comfortable 49% and the cash payout ratio is 93%. Trailing yield: 7.5%. Within top quartile of Canadian dividend payers (6.6%). Higher than average of industry peers (2.6%). Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CA$87.50, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 10x in the Capital Markets industry in Canada. Total returns to shareholders of 180% over the past three years. Upcoming Dividend • Aug 14
Upcoming dividend of CA$0.45 per share at 7.3% yield Eligible shareholders must have bought the stock before 21 August 2023. Payment date: 31 August 2023. Payout ratio is a comfortable 37% and the cash payout ratio is 93%. Trailing yield: 7.3%. Within top quartile of Canadian dividend payers (6.2%). Higher than average of industry peers (2.5%).