Common and preferred shareholders receive dividends when they are declared by the Company’s board of directors. The amount of the dividend on the common shares varies according to the Company’s financial situation, while the dividend on preferred shares is determined when the shares are issued. Note that common shares rank after preferred shares when it comes to dividend rights.

• Dividends Paid per Common Share
• Dividends Paid per Preferred Share

A public notice is issued each time a dividend is declared. The Company began adding the issued notices to its website in the first quarter of 2002. These notices can be consulted in the Financial Reports section, in the documents concerning the quarterly results.

Eligible dividends
In 2006, the federal government introduced new legislation which impacted dividends paid by Canadian companies to their shareholders. For the purposes of the enhanced dividend tax credit rules contained in the Income Tax Act (Canada) and any corresponding provincial and territorial tax legislation, all dividends paid by Industrial Alliance on its common and preferred shares since January 1, 2006 are eligible dividends. Unless otherwise indicated, all dividends paid are now eligible dividends for the purposes of such rules.

Dividends Paid per Common Share

* The data prior to May 20, 2005 were adjusted to reflect the two-for-one stock split that took place on May 18, 2005
** Common shares were initially issued in February 2000.

Dividends Paid per Non-Cumulative Class A Series B Preferred Share

* Non-cumulative class A series B preferred shares were issued in February 2006.