Sun Life sees net income rise in third quarter to $871 million

TORONTO – Sun Life Financial Inc. says net income for the third quarter was $871 million, up from $111 million a year earlier.

The Toronto-based company says earnings per share were $1.48, up from 19 cents during the third quarter last year.

Sun Life says the higher income was due in part to favourable market-related impacts from interest rates.

Underlying net income was $930 million, slightly down from $949 million a year earlier.

The company says it completed its acquisition of virtual health and wellness provider Dialogue during the quarter.

Sun Life increased its dividend by three cents to 78 cents per common share.

This report by The Canadian Press was first published Nov. 13, 2023.

Companies in this story: (TSX:SLF)

Note to readers: This is a corrected story. A previous version referred to the first quarter instead of the third quarter.