Element Financial announced that its Board of Directors declared the following dividends on Element’s preferred shares:

• A quarterly dividend of $0.4125 per outstanding Cumulative 5-Year Rate Reset Preferred Share, Series A payable on December 31, 2014 to shareholders of record on the close of business on December 17, 2014. The dividend payment is for the quarterly period up to but excluding December 31, 2014.
• A quarterly dividend of $0.40625 per outstanding Cumulative 5-Year Rate Reset Preferred Share, Series C payable on December 31, 2014 to shareholders of record on the close of business on December 17, 2014. The dividend payment is for the quarterly period up to but excluding December 31, 2014.
• A quarterly dividend of $0.40 per outstanding Cumulative 5-Year Rate Reset Preferred Share, Series E payable on December 31, 2014 to shareholders of record on the close of business on December 17, 2014. The dividend payment is for the quarterly period up to but excluding December 31, 2014.

These dividends are designated to be eligible dividends for purposes of section 89(1) of the Income Tax Act (Canada).