Olympia Financial Group Inc.
TSX : OLY

Olympia Financial Group Inc.

November 12, 2014 19:26 ET

Olympia Financial Group Inc. Announces Third Quarter Results; Confirms 2015 Quarterly Dividend Policy

CALGARY, ALBERTA--(Marketwired - Nov. 12, 2014) - Olympia Financial Group Inc. (TSX:OLY) today announced its operating and financial results for the three and nine month period ended September 30, 2014.

The unaudited condensed interim financial statements and notes, as well as management's discussion and analysis, are now available on SEDAR (www.sedar.com).

Highlights from Continuing Operations for the three month period ended September 30, 2014 include the following; when compared to the three months ended September 30, 2013:

  • Total revenue, including interest earned as trustee and interest, increased 3% to $8.97 million from $8.69 million;
  • Interest earned as trustee on monies held in trust and interest on Olympia's own cash increased 10% to $1.38 million from $1.25 million;
  • Direct and administrative expenses (excluding depreciation and amortization) increased 6% to $7.03 million from $6.61 million; and
  • Earnings before income tax decreased 12% to $1.66 million from $1.88 million.

The Board of Directors also confirmed the 2015 quarterly dividend policy of $0.65 per share. Pursuant to the dividend policy, Olympia pays regular quarterly dividends on its common shares on or about January 31, April 30, July 31 and October 31. As at the date hereof, Olympia has an aggregate of 2,496,552 common shares issued and outstanding.

About Olympia Financial Group Inc.

Olympia Financial Group Inc. ("OFGI") conducts most of its operations through its wholly- owned subsidiary Olympia Trust Company, a non-deposit taking trust company. Olympia Trust Company is licensed to conduct trust activities in Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, Newfoundland and Labrador, Prince Edward Island, New Brunswick and Nova Scotia. Olympia Trust Company administers self-directed registered accounts and offers foreign currency exchange services. OFGI also offers private health services plans through its wholly-owned subsidiary Olympia Benefits Inc.

OFGI's common shares are listed on the Toronto Stock Exchange under the symbol "OLY".

Contact Information

  • Olympia Financial Group Inc.
    Rick Skauge
    President and Chief Executive Officer
    (403) 265-1455 (FAX)
    Phone: (403) 261-0900

    Gerhard Barnard
    Vice-President, Finance and Chief Financial Officer
    (403) 265-1455 (FAX)
    Phone: (403) 261-0900