Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U) announces that it has priced a private offering of US$650,000,000 of Fairfax’s Senior Notes due 2030 (the “Notes”) at an issue price of 100%. The Notes will be unsecured obligations of Fairfax and will pay a fixed rate of interest of 4.625% per annum.
Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U), recognizing the unprecedented widespread economic suffering from the COVID-19 pandemic, is donating US$1 million to the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (the “PM CARES Fund”) to aid the Indian Government in providing assistance to its citizens in connection with the COVID-19 pandemic.
Fairfax Financial Holdings Limited (TSX: FFH and FFH.U) is pleased to announce the results of the vote on Directors at its April 16, 2020 Annual Shareholders’ Meeting. Each of the nominee directors listed in Fairfax’s management proxy circular dated March 6, 2020 was elected as a director, without a vote by ballot being conducted.
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).