Quarterly ResultMay 7, 2026, 06:08 AM
Sun Life Q1 Underlying Net Income $1.05B; Dividend Raised to $0.96
AI Summary
Sun Life reported Q1 2026 underlying net income of $1,050 million, a slight increase from Q1 2025, with underlying EPS up 4% to $1.89. However, reported net income decreased 50% to $465 million, impacted by market-related factors, a $165 million charge from acquiring remaining SLC Management affiliates, and a $145 million legal settlement charge. The company also announced an increase in its common share dividend to $0.96 per share and an intention to renew its normal course issuer bid for up to 10 million shares. Additionally, Sun Life completed acquisitions of remaining interests in BGO and Crescent Capital and plans to acquire Bell Partners.
Key Highlights
- Underlying net income was $1,050 million, up $5 million from Q1'25.
- Reported net income was $465 million, a 50% decrease from Q1'25.
- Underlying EPS was $1.89, a 4% increase from Q1'25.
- Common share dividend increased from $0.92 to $0.96 per share.
- Intention to renew normal course issuer bid to purchase up to 10 million common shares.
- Assets under management (AUM) reached $1,575 billion, up $23 billion from Q1'25.
- Acquired remaining 44% of BGO for US$1.16 billion and 49% of Crescent for US$608 million.
- Announced intention to acquire Bell Partners, a U.S. multifamily real estate investment manager.