Principal Financial Group (NASDAQ:PFG) Is Increasing Its Dividend To $0.67 - Yahoo Eurosport UK

The board of Principal Financial Group, Inc. (NASDAQ:PFG) has announced that it will be paying its dividend of $0.67 on the 20th of December, an increased payment from last year's comparable dividend. This takes the dividend yield to 3.8%, which shareholders will be pleased with.

Check out our latest analysis for Principal Financial Group

Principal Financial Group's Dividend Is Well Covered By Earnings

While it is great to have a strong dividend yield, we should also consider whether the payment is sustainable. Before making this announcement, Principal Financial Group was easily earning enough to cover the dividend. As a result, a large proportion of what it earned was being reinvested back into the business.

Looking forward, earnings per share is forecast to rise by 24.7% over the next year. If the dividend continues along recent trends, we estimate the payout ratio will be 34%, which is in the range that makes us comfortable with the sustainability of the dividend.

historic-dividend

Principal Financial Group Has A Solid Track Record

The company has an extended history of paying stable dividends. The dividend has gone from an annual total of $0.92 in 2013 to the most recent total annual payment of $2.60. This implies that the company grew its distributions at a yearly rate of about 11% over that duration. So, dividends have been growing pretty quickly, and even more impressively, they haven't experienced any notable falls during this period.

Dividend Growth May Be Hard To Come By

Investors who have held shares in the company for the past few years will be happy with the dividend income they have received. Let's not jump to conclusions as things might not be as good as they appear on the surface. It's not great to see that Principal Financial Group's earnings per share has fallen at approximately 5.1% per year over the past five years. If the company is making less over time, it naturally follows that it will also have to pay out less in dividends. Earnings are predicted to grow over the next year, but we would remain cautious until a track record of earnings growth is established.

Our Thoughts On Principal Financial Group's Dividend

Overall, this is a reasonable dividend, and it being raised is an added bonus. The earnings coverage is acceptable for now, but with earnings on the decline we would definitely keep an eye on the payout ratio. The payment isn't stellar, but it could make a decent addition to a dividend portfolio.

Companies possessing a stable dividend policy will likely enjoy greater investor interest than those suffering from a more inconsistent approach. Meanwhile, despite the importance of dividend payments, they are not the only factors our readers should know when assessing a company. As an example, we've identified 1 warning sign for Principal Financial Group that you should be aware of before investing. Looking for more high-yielding dividend ideas? Try our collection of strong dividend payers.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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Principal Financial Group (NASDAQ:PFG) Is Increasing Its Dividend To $0.67 - Yahoo Eurosport UK
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Principal Financial Group (NASDAQ:PFG) Is Increasing Its Dividend To $0.67 - Simply Wall St

Principal Financial Group, Inc.'s (NASDAQ:PFG) dividend will be increasing from last year's payment of the same period to $0.67 on 20th of December. This will take the dividend yield to an attractive 3.8%, providing a nice boost to shareholder returns.

See our latest analysis for Principal Financial Group

Principal Financial Group's Earnings Easily Cover The Distributions

While it is great to have a strong dividend yield, we should also consider whether the payment is sustainable. However, prior to this announcement, Principal Financial Group's dividend was comfortably covered by both cash flow and earnings. As a result, a large proportion of what it earned was being reinvested back into the business.

The next year is set to see EPS grow by 24.7%. If the dividend continues on this path, the payout ratio could be 34% by next year, which we think can be pretty sustainable going forward.

NasdaqGS:PFG Historic Dividend October 31st 2023

Principal Financial Group Has A Solid Track Record

The company has a sustained record of paying dividends with very little fluctuation. The annual payment during the last 10 years was $0.92 in 2013, and the most recent fiscal year payment was $2.60. This means that it has been growing its distributions at 11% per annum over that time. Rapidly growing dividends for a long time is a very valuable feature for an income stock.

Dividend Growth May Be Hard To Come By

Investors could be attracted to the stock based on the quality of its payment history. However, initial appearances might be deceiving. It's not great to see that Principal Financial Group's earnings per share has fallen at approximately 5.1% per year over the past five years. A modest decline in earnings isn't great, and it makes it quite unlikely that the dividend will grow in the future unless that trend can be reversed. Earnings are forecast to grow over the next 12 months and if that happens we could still be a little bit cautious until it becomes a pattern.

In Summary

Overall, it's great to see the dividend being raised and that it is still in a sustainable range. While the payments look sustainable for now, earnings have been shrinking so the dividend could come under pressure in the future. This looks like it could be a good dividend stock going forward, but we would note that the payout ratio has been at higher levels in the past so it could happen again.

It's important to note that companies having a consistent dividend policy will generate greater investor confidence than those having an erratic one. However, there are other things to consider for investors when analysing stock performance. For example, we've picked out 1 warning sign for Principal Financial Group that investors should know about before committing capital to this stock. If you are a dividend investor, you might also want to look at our curated list of high yield dividend stocks.

What are the risks and opportunities for Principal Financial Group?

Principal Financial Group, Inc. provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide.

View Full Analysis

Rewards

• Trading at 45.8% below our estimate of its fair value

• Earnings are forecast to grow 4.45% per year

Risks

• Profit margins (11.4%) are lower than last year (24.8%)

View all Risks and Rewards

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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Principal Financial Group (NASDAQ:PFG) Is Increasing Its Dividend To $0.67 - Simply Wall St
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Principal Financial Group (NASDAQ:PFG) Is Increasing Its Dividend To $0.67 - Yahoo Eurosport UK

The board of Principal Financial Group, Inc. (NASDAQ:PFG) has announced that it will be paying its dividend of $0.67 on the 20th of December, an increased payment from last year's comparable dividend. This takes the dividend yield to 3.8%, which shareholders will be pleased with.

Check out our latest analysis for Principal Financial Group

Principal Financial Group's Dividend Is Well Covered By Earnings

While it is great to have a strong dividend yield, we should also consider whether the payment is sustainable. Before making this announcement, Principal Financial Group was easily earning enough to cover the dividend. As a result, a large proportion of what it earned was being reinvested back into the business.

Looking forward, earnings per share is forecast to rise by 24.7% over the next year. If the dividend continues along recent trends, we estimate the payout ratio will be 34%, which is in the range that makes us comfortable with the sustainability of the dividend.

historic-dividend

Principal Financial Group Has A Solid Track Record

The company has an extended history of paying stable dividends. The dividend has gone from an annual total of $0.92 in 2013 to the most recent total annual payment of $2.60. This implies that the company grew its distributions at a yearly rate of about 11% over that duration. So, dividends have been growing pretty quickly, and even more impressively, they haven't experienced any notable falls during this period.

Dividend Growth May Be Hard To Come By

Investors who have held shares in the company for the past few years will be happy with the dividend income they have received. Let's not jump to conclusions as things might not be as good as they appear on the surface. It's not great to see that Principal Financial Group's earnings per share has fallen at approximately 5.1% per year over the past five years. If the company is making less over time, it naturally follows that it will also have to pay out less in dividends. Earnings are predicted to grow over the next year, but we would remain cautious until a track record of earnings growth is established.

Our Thoughts On Principal Financial Group's Dividend

Overall, this is a reasonable dividend, and it being raised is an added bonus. The earnings coverage is acceptable for now, but with earnings on the decline we would definitely keep an eye on the payout ratio. The payment isn't stellar, but it could make a decent addition to a dividend portfolio.

Companies possessing a stable dividend policy will likely enjoy greater investor interest than those suffering from a more inconsistent approach. Meanwhile, despite the importance of dividend payments, they are not the only factors our readers should know when assessing a company. As an example, we've identified 1 warning sign for Principal Financial Group that you should be aware of before investing. Looking for more high-yielding dividend ideas? Try our collection of strong dividend payers.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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Homa Bay students beat up head teacher 'for giving them porridge without sugar' - Nation

Education officials in Homa Bay are investigating the circumstances that led to an incident in which a secondary school Principal was attacked by students after he was accused of giving pupils porridge without sugar.

The Friday morning incident left God Bura Mixed Secondary School principal Collins Omondi with injuries on his body after pupils attacked him for allegedly mismanaging the learning institution.

According to a police report filed by the school administration, the principal was in his house when a group of students knocked on the door. 

The students included Form Fours and others classes.

The pupils are said to have ordered Mr Omondi to accompany them to the local police station. But when the teacher refused, they started beating him.

Witnesses said he was overpowered.

He was eventually taken to the station before police rescued him from the angry students.

Homa Bay County Police Commander Mr Samson Kinne said the matter was being handled by the Ministry of Education. 

"Some parents also intervened to help him when he was attacked by the students," he said.

Mr Omondi was reportedly accused of poor leadership.

Apart from providing porridge without sugar to the learners, he is also accused of being arrogant and running down the school.

The chairman of the Kenya Secondary Schools Heads Association in Suba, Mr Paul Mbara, condemned the attack.

He said the teacher had sustained injuries to his chest. 

Mr Omondi was first taken to Magunga Level Four Hospital for medical examination before being referred to another facility for an X-ray.

"Attacking teachers is not a solution to the problems facing schools. There should be alternative dispute resolution mechanisms," said Mr Mbara.

He expressed concern that the issue could escalate into other problems that could lead to poor student performance.

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Auckland school seeks suppression after deputy principal convicted for child sex abuse images - New Zealand Herald

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Auckland school seeks suppression after deputy principal convicted for child sex abuse images  New Zealand Herald
Auckland school seeks suppression after deputy principal convicted for child sex abuse images - New Zealand Herald
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‘Grief, shock, utter confusion’: Principal’s powerful tribute to Lilie James - Sydney Morning Herald

The head of St Andrew’s Cathedral School has addressed hundreds of senior school students at a special assembly on Monday morning, thanking them for their support as they grieve the death of staff member Lilie James.

“If I could, I would brief you one at a time, I would say your name and sit with you in the ashes of what has happened. But I know I can’t right now. So, here we are,” the school’s head Dr Julie McGonigle told about 800 students gathered at St Andrew’s Cathedral.

Flower tributes outside St Andrew’s Cathedral School on Monday.Credit: Flavio Brancaleone

“And now we are left with grief, shock, and utter confusion – because both parties were known to our school. Our beautiful Ms James, a ray of light and Mr Thijssen, whose actions are completely incongruent with who we knew.”

McGonigle’s comments to year 7 to 11 students came as pupils returned to school for the first time since police found James’ body with brutal head injuries in a gymnasium bathroom at the school last Wednesday.

Mourners placed flowers outside St Andrew’s on Monday morning as students returned to the CBD campus after it was closed to students on Thursday and Friday when a crime scene was established, although some senior school exams continued.

A police search for her suspected killer, fellow sports coach Paul Thijssen, was called off after a body was recovered off a cliff in Sydney’s east on Friday.

Teachers welcomed students in their classrooms and were provided with scripted support material “to ensure consistent language across home and school”.

The school said it had received hundreds of emails offering support, including from dozens of other schools offering extra counsellors and psychologists.

“Firstly, let me say thank you, because the love, support and kindness that you and your parents have shown to our staff body and to each other over the last four days have been extraordinary,” McGonigle said.

“The tight-knit, deeply loving and faith-filled nature of our community is what will get us through this, and you have demonstrated that in its fullness over these last days.

A flower tribute outside St Andrew’s Cathedral School in memory of Lilie James on Monday.Credit: Flavio Brancaleone

“I also want to say that some of what I share in this briefing will be difficult to hear. However, I want to treat you with the utmost respect, you are not children, you are young adults and I want you to hear the truth about what happened from me.

“You are not alone in this. We are a strong and courageous community. Together, each day, we can face our fears and take a step forward.”

McGonigle addressed students and led a prayer service, as staff and teachers sought to “resume as normal as much as possible” after the tragedy. “We have been advised by expert psychologists that resuming your normal routines is extremely important. However, to do so will require courage from each of us,” she told students.

The address followed an interview that James’ grandmother, Barbara Adelt, gave to Ben Fordham on 2GB on Monday morning, saying her “bright” and “loyal” 21-year-old granddaughter would have been heartened by the outpouring of community tributes.

“Some people come into this world – I think they’re so special – and they don’t stay long,” Adelt said.

“I’d say to her, ‘Look Lilie, they’re all coming out for you’. She would have loved that.”

Adelt said her granddaughter never stopped learning and doing new things, juggling her studies with working four-and-a-half days a week and coaching swimming and water polo at St Andrew’s.

“She had to give up her ballet lessons, which was a shame, but she couldn’t fit them in,” she said.

Counselling stations have been set up at the school for students showing signs of distress. All sports and music activities have been cancelled and the school’s sports centre and a pedestrian plaza between Town Hall and St Andrew’s Cathedral will remain out of bounds.

James had worked at the school as a water polo coach since February and was in her second year of a sports business degree at UTS.

The UTS Balmain Tigers Water Polo Club, which James had played for this year, held a minute’s silence before its games on Saturday.

James’ activities across the school had been wide-ranging, and she “was adored by all”, McGonigle said in a post on the school’s Facebook page on Friday. “Our first priority is to Lilie’s family and we stand with them in their pain,” she said.

Investigations into James’ death are continuing.

Thijssen, her alleged killer, made his final call to triple zero, alerting police to a body at St Andrew’s, and CCTV footage obtained by Nine News shows Thijssen arriving by car in a street in Vaucluse just before 9pm on Wednesday.

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Jind school principal suspended after girl students allege sexual harassment - The Tribune India

Tribune News Service

Hisar, October 29

In a shocking incident, several girl students of a government school in Jind district have accused the principal of sexual harassment and exploitation. The state government has placed the accused principal, Kartar Singh, under suspension following an inquiry.

Victims wrote to women commission

• In a five-page handwritten letter to the National Commission for Women (NCW), Delhi, several girl students accused their school principal of sexual harassment
• NCW approached Haryana Govt. Following a probe, the principal has been suspended. A report will be submitted to Edu Dept on Monday

The victims, in a five-page handwritten letter to the National Commission for Women (NCW), Delhi, on August 31, revealed that the principal with the help of a woman teacher had been sexually harassing the girl students. They alleged that the principal had fixed black glasses in the window of his room. “A woman teacher sends girls to meet the principal in his room. The principal touches the girls inappropriately and also talks in filthy language,” one of the girls stated in the complaint, adding that she had suffered the harassment twice.

She further stated that the principal had sexually harassed 10-15 girls in recent times, and one of them had to drop out due to harassment.

She urged the authorities to investigate the matter as several victims would come forward to reveal the misdemeanors of the principal. As per the letter, the principal was transferred to their school on account of complaints of bad behaviour and character in the previous one.

Sources said the NCW brought the matter to the notice of the Haryana Government, which marked an inquiry to the District Education Officer. Following the inquiry, the Additional Chief Secretary, Education, suspended the accused on October 27. A district official said the principal had been suspended and a detailed report would be submitted to the Education Department on Monday after which further action would be taken.

#Hisar

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Principal 2nd violin plays all parts in his own ensemble - Slippedisc - Slipped Disc

norman lebrecht

October 29, 2023

Daniel Bayle knew he would have no time in his hands when he retired as principal second at the Orchestre National du Capitole de Toulouse.

Daniel had long cultivated a passion for making stringed instruments and now decided to play all his creations in his one-man ensemble.

Watch.

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Haryana school principal accused of molestation suspended following PMO's intervention - Times of India

CHANDIGARH: The Haryana government has taken action by suspending the principal of a senior secondary girls' school, following the intervention of the Prime Minister's Office, in connection with an alleged molestation case in Uchana town, located in Haryana's Jind district.
The Uchana Kalan constituency is represented by Deputy Chief Minister Dushyant Chautala, and it was there that a group of girls wrote a letter to Prime Minister Narendra Modi, detailing allegations of sexual exploitation by the school principal involving several underage girls.
Officials have confirmed that the Prime Minister's Office, the Women's Commission, the Education Department, and local authorities are actively investigating the matter, with further action to be determined once the final reports are available.
In a five-page letter dated August 31, 2023, addressed to the Chief Justice of India (CJI), the President of India, Prime Minister Narendra Modi, the Governor, the Education Minister, and others, a group of girls made disturbing allegations. They claimed that "the accused molested more than 10 girls, resulting in many dropping out of school out of fear of sexual exploitation. The principal has a questionable character and has been transferred multiple times in the past due to molestation complaints filed by girls in his previous schools. These facts should be verified. A female teacher at the school is involved with the accused in the crimes and was known for her association with him. The accused has obscured his glass office door with black paint, making it impossible to see from the outside, while he could observe the movements outside while sitting at his desk. He would call a selected girl into his office, close to his chair, and touch her inappropriately. He would divert attention by asking the victim girl to stand at a distance when someone visited his office."
The principal would allegedly blackmail girls by threatening to fail them in practical exams or pass them in exams. Furthermore, he would intimidate the girls by saying that he would inform their parents that they were leaving school to meet their boyfriends, which would lead to their expulsion from school.
"We are writing this letter anonymously as the accused may harm us if he learns of our identities. This matter should be investigated by higher authorities in Chandigarh and Delhi. Girls from this school should be interviewed separately during the investigation, and no local teachers or staff members should be involved in the process. The girls will reveal the true nature and story of this unscrupulous principal. We have faced similar situations in his office on two occasions, and he threatened to file false complaints with our parents if we did not comply. When we confided in other teachers, they advised us to remain silent about the issue. Now, prompt and just action must be taken in this matter," the letter stated.
Speaking to TOI (Times of India), Additional Deputy Commissioner (ADC) Harish Vashisth explained that several teams are actively investigating the case, including the PMO, the Women's Commission, the Education Department, and district officials. The accused has been suspended, and a final decision will be made upon the completion of the inquiry. Higher authorities will determine the next steps, which may involve termination or legal proceedings in this matter. A report will be submitted soon, he added.
(The victims' identity has not been revealed to protect her privacy as per Supreme Court directives on cases related to sexual assault)

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Haryana school principal accused of molestation suspended following PMO's intervention - Times of India
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Principal 2nd violin plays all parts in his own ensemble - Slipped Disc

norman lebrecht

October 29, 2023

Daniel Bayle knew he would have no time in his hands when he retired as principal second at the Orchestre National du Capitole de Toulouse.

Daniel had long cultivated a passion for making stringed instruments and now decided to play all his creations in his one-man ensemble.

Watch.

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Principal 2nd violin plays all parts in his own ensemble - Slipped Disc
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NYC principals study in China on taxpayer, communist group's dime - New York Post

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Court blocks Seaforth High board from appointing new principal - Jamaica Gleaner

A TEMPORARY stay granted by the Court of Appeal this month to the dismissed principal of the Seaforth High School, Calbert Thomas, has barred the school board from filling the vacancy.

The dismissal should have taken effect on September 30, but that decision will have to await the outcome of an appeal against a Supreme Court ruling last month.

On November 22 last year, the board of the St Thomas-based school convened a meeting with Thomas in the presence of officials from the Ministry of Education.

Several charges were levelled at Thomas, which included a failure to monitor internal controls, a lack of adequate segregation of duties, lack of regular checks and balances with respect to the bursar, and making payment of salary and other emoluments to academic and administrative staff without prior approval from the education ministry.

A decision was taken at the meeting that disciplinary proceedings should be taken against Thomas.

Thomas was first suspended by the board in January this year, with two-thirds monthly salary.

He was subsequently fired in June this year, but Thomas is maintaining that he was unjustly dismissed.

Thomas, who is being represented by attorney-at-law Keith Bishop, had applied for leave to go to the Judicial Review Court to quash the dismissal order.

The school board and the attorney general were named as respondents.

Fair hearing

Supreme Court Judge Sonya Wint-Blair heard submissions in chambers last month and dismissed the application.

Thomas had contended in his application that he was not afforded a fair hearing within a reasonable time by an independent and impartial court.

He claimed that he was not given adequate time and facilities for the preparation of his defence.

He outlined that although the Teachers Appeal Tribunal was an alternative form of redress, judicial review was the most appropriate remedy available to him, in that if the court granted the order, it would operate as a stay and prevent the school board from appointing another person as principal.

Justice Wint-Blair heard the application and ruled that “in all the circumstances of the case, while the grounds indicate that there are arguable grounds with realistic prospect of success on the face of the record, the applicant has not been able to successfully overcome the discretionary bar of an alternative avenue for redress”.

The judge said further that Thomas did not avail himself of or exhaust the statutory appellate process.

Thomas did not appeal first to the Teachers Appeal Tribunal, and the judge said it was an unfortunate situation and of his own making.

Thomas filed an appeal against the judge’s ruling, and the court granted a stay, which, in effect, prevents the school board from filling the post.

He said in his affidavit that on June 23, this year, the police knocked on the gate to his home and handed him a letter, which stated that he was terminated as principal due to neglect of duty and professional misconduct.

Thomas, who served the school for 33 years and was appointed principal in 2018, outlined in court documents that most of the complaints raised at the hearing held by the personnel committee in June were addressed and resolved, if not fully, then substantially, within the last two years.

He said that Rohan Purcel from the Ministry of Education had given evidence at the hearing that Thomas did not commit any breaches of the criminal law, and at the time of the hearing, there was no evidence that he owed a dollar to the school.

The attorney general was removed as a respondent following submissions by attorneys-at-law Louis-Jean Hacker and Jenoure Simpson that the attorney general was not the decision maker in the matter, and, therefore, was not a proper party to a judicial review claim under the Crown Proceedings Act.

editorial@gleanerjm.com

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NYC principals study in China on taxpayer, communist group's dime - New York Post

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Beavercrest principal requests second crosswalk - Hamilton Spectator

The Beavercrest principal has asked the municipality for a crosswalk at Edith Street on County Road 12, following up on what she has heard from parents and neighbours.

“We are all very concerned that a student will be hit by a vehicle,” said the letter from elementary school principal Tennille Schultz.

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Tuition hikes at Quebec's anglophone universities not a done deal yet, says McGill principal - Ottawa Citizen

"We will do everything we can to make sure that the Canadians who want to study at McGill have the opportunity to do that."

Prof. Deep Saini, the principal of McGill University Photo by Jean Levac /Postmedia

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Quebec’s plan to collect more tuition money from students outside the province is not a done deal yet, says the principal of McGill University.

Quebec is planning a major overhaul of its complex university tuition structure for out-of-province students, including charging more in tuition for anglophone universities.

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This is presenting a major hurdle for the province’s three major English-language universities — McGill, Concordia and Bishop’s — where new students from out of province would face over $17,000 in tuition, almost double what they pay now. International student tuition would rise to at least $20,000. 

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Deep Saini, who began his term as the principal and vice-chancellor of McGill on April 1, was in Ottawa on Wednesday as he takes the helm as the board chair of Universities Canada. 

“The heartening part of it is that it’s not a done deal yet,” said Saini in a brief interview during a break from Universities Canada’s fall meeting.

“It is an intent that has been announced. And we are working very hard to bring the facts to the government and help them learn about the consequences that they may not have thought about in advance. And we’re hoping that we will be able to turn it around.”

The changes are to take effect next fall, sparking fears that it will discourage students from other provinces and outside the country from studying in Quebec — and causing students contemplating applying to anglophone universities in Quebec to reconsider their plans.

Asked what he would say to students from out of province who want to apply to McGIll and their families, Saini urged them not to lose interest.

“We will do everything we can to make sure that the Canadians who want to study at McGill have the opportunity to do that.”

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For McGill, it’s not simply the money, said Saini.

“McGill, among our research-intensive universities, is the most Canadian university in the country. We attract 30 per cent of our students from outside Quebec. If that number drops, the character of McGill will change. And that is of great concern to us, to me as the leader of McGill,” he said.

“But as I say, we haven’t given up yet. It’s not a done deal yet. And I’m hoping very, very much that better sense will prevail.”

Among the goals of the changes to tuition structure: to discourage non-Quebec students from studying in English in Quebec and reallocate more money to francophone universities.

Saini said all of the universities in Quebec are reflecting on the implications. “We have a large number of French universities that are also very concerned about some of the measures that have been announced,” he said.

Since 2019, Quebec’s three anglophone universities have brought in $282 million from international students, compared with the $47 million collected by 10 francophone universities, according to the Quebec government figures.

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Deregulation has led to a ballooning of international students at English institutions, bringing tens of thousands of additional students to the province and contributing to the decline of French, Quebec’s minister of higher education, Pascale Déry, has said.

According to Higher Education Strategy Associates, a post-secondary strategic consulting firm, differential fees in Quebec were introduced in 1996, set at the average of fees in the other province. It is currently about 115 to 120 per cent of the fees in the other provinces.

According to Higher Education Strategy Associates president Alex Usher, 6,399 Ontario students went to Quebec to study and benefitted from Quebec taxpayer dollars. Meanwhile, ut 6,456 Quebec students went to Ontario to study and benefited from Ontario tax dollars.

Usher has argued that the “scary part” is that if every other province did that, it would be a collective loss for students and student choice.

Saini said he hopes there will not be knock-on effects on other universities. “Because then we become part of the same poor judgement that has been shown in this case. And my appeal to the rest of Canada would be:  ‘Don’t follow a bad example.’ ”

Students at McGill, Concordia, Bishop’s University and Université du Québec à Montréal have announced they will skip class on Monday to protest the tuition increases.

“Students are independent bodies. They do what they want to do,” said Saini. “They are impacted by it and they have the freedom to protest if they want to in a peaceful manner.”

(With files from the Montreal Gazette)

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Tuition hikes at Quebec's anglophone universities not a done deal yet, says McGill principal - Ottawa Citizen

"We will do everything we can to make sure that the Canadians who want to study at McGill have the opportunity to do that."

Prof. Deep Saini, the principal of McGill University Photo by Jean Levac /Postmedia

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Quebec’s plan to collect more tuition money from students outside the province is not a done deal yet, says the principal of McGill University.

Quebec is planning a major overhaul of its complex university tuition structure for out-of-province students, including charging more in tuition for anglophone universities.

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This is presenting a major hurdle for the province’s three major English-language universities — McGill, Concordia and Bishop’s — where new students from out of province would face over $17,000 in tuition, almost double what they pay now. International student tuition would rise to at least $20,000. 

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Deep Saini, who began his term as the principal and vice-chancellor of McGill on April 1, was in Ottawa on Wednesday as he takes the helm as the board chair of Universities Canada. 

“The heartening part of it is that it’s not a done deal yet,” said Saini in a brief interview during a break from Universities Canada’s fall meeting.

“It is an intent that has been announced. And we are working very hard to bring the facts to the government and help them learn about the consequences that they may not have thought about in advance. And we’re hoping that we will be able to turn it around.”

The changes are to take effect next fall, sparking fears that it will discourage students from other provinces and outside the country from studying in Quebec — and causing students contemplating applying to anglophone universities in Quebec to reconsider their plans.

Asked what he would say to students from out of province who want to apply to McGIll and their families, Saini urged them not to lose interest.

“We will do everything we can to make sure that the Canadians who want to study at McGill have the opportunity to do that.”

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For McGill, it’s not simply the money, said Saini.

“McGill, among our research-intensive universities, is the most Canadian university in the country. We attract 30 per cent of our students from outside Quebec. If that number drops, the character of McGill will change. And that is of great concern to us, to me as the leader of McGill,” he said.

“But as I say, we haven’t given up yet. It’s not a done deal yet. And I’m hoping very, very much that better sense will prevail.”

Among the goals of the changes to tuition structure: to discourage non-Quebec students from studying in English in Quebec and reallocate more money to francophone universities.

Saini said all of the universities in Quebec are reflecting on the implications. “We have a large number of French universities that are also very concerned about some of the measures that have been announced,” he said.

Since 2019, Quebec’s three anglophone universities have brought in $282 million from international students, compared with the $47 million collected by 10 francophone universities, according to the Quebec government figures.

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Deregulation has led to a ballooning of international students at English institutions, bringing tens of thousands of additional students to the province and contributing to the decline of French, Quebec’s minister of higher education, Pascale Déry, has said.

According to Higher Education Strategy Associates, a post-secondary strategic consulting firm, differential fees in Quebec were introduced in 1996, set at the average of fees in the other province. It is currently about 115 to 120 per cent of the fees in the other provinces.

According to Higher Education Strategy Associates president Alex Usher, 6,399 Ontario students went to Quebec to study and benefitted from Quebec taxpayer dollars. Meanwhile, ut 6,456 Quebec students went to Ontario to study and benefited from Ontario tax dollars.

Usher has argued that the “scary part” is that if every other province did that, it would be a collective loss for students and student choice.

Saini said he hopes there will not be knock-on effects on other universities. “Because then we become part of the same poor judgement that has been shown in this case. And my appeal to the rest of Canada would be:  ‘Don’t follow a bad example.’ ”

Students at McGill, Concordia, Bishop’s University and Université du Québec à Montréal have announced they will skip class on Monday to protest the tuition increases.

“Students are independent bodies. They do what they want to do,” said Saini. “They are impacted by it and they have the freedom to protest if they want to in a peaceful manner.”

(With files from the Montreal Gazette)

Related Stories

1. 

   Pellerin: Quebec's tuition plan for English-language universities is here to stay

2. Tuition fees: Quebec should lower them for francophone students, Montreal mayor says

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