First National Financial LP

Annual Reports

Annual Reports

2017 at a Glance


First National is Canada’s largest non-bank mortgage lender and largest commercial mortgage lender.

$100 Billion

In 2017, Mortgages under Administration (MUA) exceeded $100 billion for the first time, representing approximately 290,000 residential customers and over 5,000 commercial borrowers.

$1.1 Billion

Amount of dividends and distributions First National has paid to common shareholders since its initial public offering in 2006.

$205.3 Million

Net income attributable to common shareholders increased 4% in 2017, providing support for record common share dividends of $184.4 million.


First National paid a special dividend in December 2017 of $1.25 per common share in addition to its regular monthly common share dividends.


The number of times our Board has increased the common share dividend since First National’s 2006 initial public offering.


The after-tax, Pre-Fair Market Value1 return on shareholders’ equity in 2017 demonstrates the efficiency of First National’s business model.


The cumulative yield from dividends, distributions and capital appreciation earned by a shareholder between First National’s initial public offering in June 2006 and December 31, 2017.

Non-IFRS Measure. See MD&A for more details.