Industrial Alliance Insurance and Financial Services Inc. today announced the completion of a Canadian public offering of $125 million of series B preferred shares.

The company issued 5 million Series B Preferred Shares priced at $25.00 per share. Holders will be entitled to receive fixed non-cumulative preferential quarterly dividends of $0.2875 per share, to yield 4.60% per annum.

The offering was underwritten by a syndicate of investment dealers led by Scotia Capital Inc. The offering closed today.