OTTAWA, ON, March 24, 2022 /CNW/ - Canada Mortgage and Housing Corporation (CMHC) today declared dividends of $995 million to its shareholder, the Government of Canada.
CMHC's Board of Directors approved dividend payments of $250 million from our Mortgage Insurance business and $145 million from Mortgage Funding activities, as well as a special dividend of $600 million from Mortgage Insurance. The dividends are to be paid to the Government of Canada no later than April 30, 2022.
The dividend strikes the right balance between returning some excess capital to the Government of Canada and retaining sufficient capital to protect against economic factors that could impact our business. Strong risk management and financial stewardship come from making choices. By returning some excess capital to our shareholder, we enable the Government of Canada to use the funds to support Canadians where it is needed most.
CMHC supports the housing market and financial system stability by providing support for Canadians in housing need, and by offering housing research and advice to all orders of Canadian government, consumers and the housing industry. For more information, follow us on Twitter, YouTube, LinkedIn, Facebook and Instagram.
SOURCE Canada Mortgage and Housing Corporation
CMHC Media Relations, [email protected]
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