Business: Intact Financial Corp 5.20% Non-Cumulative Preference Shares Class A Series 5 liquidation preference $25 Canadian dollars per share, redeemable at the issuer's option on or after 06/30/2022 at $26 Canadian dollars per share plus declared and unpaid dividends, and with no stated maturity.<p> Non-cumulative distributions of 5.20% per annum ($1.30 Canadian dollars Per annum or $0.325 Canadian dollars Per quarter) will be paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the record date fixed by the board (NOTE: the ex-dividend date is one business day prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. <p> The issuer may redeem the Series 5 Preference Shares in whole or in part, after 06/30/2022 but prior to 06/30/2023 at $26.00 Canadian dollars per share, at $25.75 Canadian dollars per share prior to 06/30/2024, at $25.50 Canadian dollars per share prior to 06/30/2025, at $25.25 Canadian dollars per share prior to 06/30/2026 and at $25.00 Canadian dollars on or after 06/30/2026. <p> In regard to the payment of dividends and upon liquidation, the preference shares rank junior to the company's senior debt, equally with other preference shares of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preference shares.