Goeasy shares sink nearly 60% after it withdraws guidance, suspends dividend
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Hey there, time traveller!
This article was published 10/03/2026 (191 days ago), so information in it may no longer be current.
TORONTO – Shares in Goeasy Ltd. sank nearly 60 per cent after the non-prime consumer lender suspended its dividend, announced it would take more than $200 million in charges in its fourth quarter and withdrew its financial guidance.
Goeasy shares were down $65.90 or 57 per cent at $49.65 in afternoon trading on the Toronto Stock Exchange.
The company said it expects to take a $178-million charge for bad loans related to its LendCare business in its fourth quarter and a related writedown of about $55 million for loan interest and fees.
It also expects a net increase in allowance for credit losses on gross consumer loans receivable in the quarter of $86 million compared with the amount reported at Sept. 30.
Goeasy also announced Felix Wu has been appointed chief financial officer, effective immediately. Wu has been in the job on an interim basis since Sept. 30.
The company expects to release its fourth-quarter results on March 25.
This report by The Canadian Press was first published March 10, 2026.
Companies in this story: (TSX:GSY)