Business: Intact Financial Corp, Non-cumulative Rate Reset Class A Shares Series 3 liquidation preference $25 Canadian dollars per share, redeemable at the issuer's option on or after 09/30/2016 at $25 Canadian dollars per share plus declared and unpaid dividends, and with no stated maturity. <p> Non-cumulative distributions of 3.332% per annum ($0.83 Canadian dollars Per annum or $0.2075 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). After 09/30/2016 The Dividend Rate will be equal to the sum of the Government of Canada Yield of a Canadian dollar denominated non-callable Government of Canada 5 year maturity bond on the applicable fixed rate calculation date plus 2.66% (see prospectus for more details). 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> On 09/30/2016 and every September 30th in every fifth year there after the holder will have the right to convert their Series 3 shares into Intact Financial Corp Non-cumulative Floating Rate Class A Shares Series 4 (see prospectus for more details). <p> In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock.