|Bid||78.42 x 0|
|Ask||78.63 x 0|
|Day's Range||78.20 - 80.28|
|52 Week Range||56.12 - 80.28|
|Beta (3Y Monthly)||1.46|
|PE Ratio (TTM)||8.04|
|Forward Dividend & Yield||1.24 (1.60%)|
|1y Target Est||N/A|
TORONTO , June 19, 2019 /CNW/ - Equitable Group Inc. (TSX:EQB and EQB.PR.C) ("Equitable" or "Company") today announced it has closed a $400 million secured backstop liquidity facility with a syndicate of Canadian bank lenders led by The Toronto-Dominion Bank and including Bank of Montreal, CIBC, National Bank, and Scotiabank. The new 2-year facility replaces a more expensive maturing backstop and results in savings to the Company of approximately $1.6 million per quarter ( $0.29 of annualized EPS benefit) as compared with Q1 2019. The cost of the new facility, on an undrawn basis, is 60 basis points or $2.4 million per annum. The interest rate on any funds drawn under the facility would be equal to CDOR plus 125 basis points, which makes it competitive with the Bank`s most recent Deposit Note issuance. The Company did not draw on its previous facility that was put in place following a period of funding market instability in the spring of 2017 and does not anticipate drawing on the new facility.
MONTREAL , May 27, 2019 /CNW/ - Equitable Bank (" Canada's Challenger Bank™"), the wholly owned subsidiary of Equitable Group Inc. (TSX: EQB and EQB.PR.C) today announced the launch of the Equitable Bank Reverse Mortgage in Quebec . "Many banks, Equitable included, offer services that help Quebecers build their wealth, but surprisingly few do what we have done: design a product that efficiently unlocks home equity for those in the asset decumulation stage of life," said Natalie Cormier , Regional Director Quebec, Equitable Bank. The need for the Equitable Bank Reverse Mortgage is clear: only six per cent of Canadians feel financially well-positioned to tackle retirement and 43% have saved less than $100,000 , according to Mintel's 2018 Retirement Planning Report.
TORONTO , April 16, 2019 /CNW/ - Equitable Bank, a wholly owned subsidiary of Equitable Group Inc. (the "Company") (TSX:EQB and EQB.PR.C) today announced the closing of a successful institutional placement of a $150 million 2-year fixed rate deposit note due April 16, 2021 (the "Deposit Note"). The Deposit Note was priced at 160 basis points over comparable term Government of Canada bonds, which was tighter than the levels achieved on Equitable's last deposit note issuance. Similarly, twenty-five (25) investors participated in the deal, almost twice as many as in the Company's previous deposit note issuance. The Deposit Note ranks equally and ratably with all present and future unsecured and unsubordinated liabilities of the Company. It is not eligible for Canada Deposit Insurance Corporation insurance.
TORONTO , April 10, 2019 /CNW/ - Equitable Group Inc. (TSX: EQB and EQB.PR.C) ("Equitable" or the "Company") today launched its first all-digital annual report to give shareholders a more comprehensive and accessible method for reviewing the progress of its business. This innovative format aligns with Equitable's digital strategy and positioning as Canada's Challenger Bank™. The report contains a personal message from Equitable's Chair of the Board and a video featuring Equitable's President and CEO, in addition to serving as a digital repository for key annual disclosures including the MD&A and Consolidated Financial Statements, Management Information Circular, Annual Information Form and Public Accountability Statement.
Equitable Group Reports Fourth Quarter and Annual Results, Increases Common Share Dividend By 7%
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TORONTO , Dec. 7, 2018 /CNW/ - Equitable Bank, a wholly-owned subsidiary of Equitable Group Inc. (TSX:EQB and EQB.PR.C), announced today the launch of its Cash Surrender Value (CSV) Line of Credit that will give Canadians aged 50 and up another way to fund their retirement. Equitable Bank estimates that the annual origination volume of life insurance secured loans will grow to roughly $1 billion by 2023. Through the Equitable Bank CSV Line of Credit, Canadians can borrow up to 90 per cent of the cash surrender value of their participating whole life insurance policy without making ongoing payments and affecting the growth of their policy.
TORONTO , Dec. 3, 2018 /CNW/ - Equitable Group Inc. (TSX: EQB and EQB.PR.C) ("Equitable" or the "Company") today announced it has reached an agreement to acquire Bennington Financial Services Corp, a profitable and growing privately owned company serving the brokered equipment leasing market in Canada . Bennington was founded in Oakville, Ontario in 1996 and has developed a strong market position in non-prime equipment leasing. Bennington finances a wide range of assets with a focus on transportation, construction and food service equipment, has long-tenured relationships with professional leasing brokers throughout Canada , and employs a proven approach to adjudication with emphasis on lease structure, security and re-marketability.
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Equitable Group Reports Record Quarterly Results, Strong Credit Performance, and Increases Dividend
TORONTO , Nov. 6, 2018 /CNW/ - Equitable Group Inc. (TSX: EQB and EQB.PR.C) ("Equitable" or the "Company") announced today that it is changing the start time of its conference call to discuss third quarter results to 8:30 am eastern on Friday November 9, 2018 from the previously announced time of 10 am eastern. Alternatively, the call will be archived on the Company's website for three months. The Company will report its financial results for the three and nine months ended September 30, 2018 after the market closes on November 8, 2018 .
Equitable Bank receives letters patent of incorporation for its wholly-owned trust company