Fairfax Financial Holdings Limited (TSX: FFH and FFH.U) announces preliminary unaudited financial information which will be finalized for the Company’s first quarter of 2020 unaudited financial results, including information reflecting key developments as a result of the COVID-19 pandemic and its impact on global financial markets. We are currently estimating a net loss in the first quarter of 2020 of approximately $1.4 billion and an approximate 12% decrease in book value adjusted for the $10 per common share dividend paid in the first quarter of 2020.
Fairfax Financial Holdings Limited (TSX: FFH and FFH.U), recognizing the unprecedented widespread economic suffering resulting from the COVID-19 pandemic, is donating US$2 million ($1 million in Canada and $1 million in the United States) to food banks and humanitarian organizations providing relief services to those severely disadvantaged by the COVID-19 pandemic.
Fairfax Financial Holdings Limited (TSX: FFH and FFH.U) has formerly announced that, due to the COVID-19 pandemic, shareholders will not be able to attend in person at its annual meeting commencing 9:30 a.m. Eastern Time on Thursday, April 16, 2020, but that there will be a webcast of the formal annual meeting and a presentation by Prem Watsa, Fairfax’s Chair and CEO, followed by a Q&A session.
Fairfax Financial Holdings Limited (TSX: FFH and FFH.U), recognizing the widespread cancellation of public events as a protection of individual and public safety in the face of the COVID-19 pandemic, with great regret has cancelled the attendance of its directors and the officers of all of its subsidiaries and Fairfax group companies at its April 16 annual meeting and has cancelled all booths and other events (dinners, etc.) originally contemplated for that meeting. Therefore, shareholders will not be able to attend the meeting in person.
Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U) announces that it has determined the fixed dividend rate on its Cumulative 5-Year Rate Reset Preferred Shares, Series E (the “Series E Shares”) (TSX: FFH.PR.E) for the five years commencing April 1, 2020 and ending March 31, 2025.
Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U) announces that after 17 years of dedicated service, Paul Rivett has decided to retire as President of Fairfax in order to spend full time with his family. Paul has agreed to continue as the Chair of certain Fairfax investees, including Fairfax Africa and Recipe Unlimited.
Fairfax Financial Holdings Limited (TSX: FFH and FFH.U) announces fiscal year 2019 net earnings of $2,004.1 million ($69.79 net earnings per diluted share after payment of preferred share dividends) compared to fiscal year 2018 net earnings of $376.0 million ($11.65 net earnings per diluted share after payment of preferred share dividends), primarily reflecting net gains on investments. Book value per basic share at December 31, 2019 was $486.10 compared to $432.46 at December 31, 2018 (an increase of 14.8% adjusted for the $10 per common share dividend paid in the first quarter of 2019).
Fairfax Financial Holdings Limited (TSX: FFH and FFH.U) will hold a conference call at 8:30 a.m. Eastern Time on Friday, February 14, 2020 to discuss its 2019 year-end results, which will be announced after the close of markets on Thursday, February 13, 2020 and will be available at that time on its website at www.fairfax.ca.
Fairfax Financial Holdings Limited (TSX: FFH and FFH.U) has revised the record date for its annual dividend announced earlier today to January 17, 2020 (the originally announced record date of January 21, 2020 interferes with a holiday in the United States). The dividend payment date of January 28, 2020 remains the same.
Fairfax Financial Holdings Limited (TSX: FFH and FFH.U) announces that it has declared a dividend of US$10.00 per share on its outstanding multiple voting and subordinate voting shares, payable on January 28, 2020 to shareholders of record on January 21, 2020. Applicable Canadian withholding tax will be applied to dividends payable to non-residents of Canada.