Lender goeasy slides after $131 million charge-off flagged, dividend and buybacks suspended

Shares of goeasy GSY.TO plunge 46.93% to C$62.5, after Canadian lender forecasts Q4 incremental charge-off of C$178 million ($131.25 million) against C$5.5 billion ($4.06 billion) in gross consumer loans receivable

It also expects C$55 million ($40.55 million) write down for loan interest and fees; total Q4 net charge-offs, including incremental charge-off, expected to reach C$331 million ($244.06 million)

Co suspends quarterly dividend and share repurchases; withdraws both Q4 2025 and three-year forecasts

Felix Wu, who has served as interim CFO since September 30, has been appointed permanent Chief Financial Officer, effective immediately

Co is set to release Q4 2025 earnings results after market close on March 25

($1 = 1.3562 Canadian dollars)