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goeasy Ltd. TSX Symbol : GSY goeasy Ltd. 33 City Centre Drive Suite 510 Mississauga , Ontario L5B 2N5 Canada Tel : 905-272-2788 Fax : 905-272-9886 Press Release February 17 , 2021 goeasy Ltd. Reports Record Results for the Fourth Quarter and Full Year Loan Portfolio of $ 1.25 billion , up 12 % Adjusted Quarterly Diluted Earnings per Share of $ 2.24 , up 55 % Adjusted Annual Net Income of $ 118 million , up 47 % Adjusted Annual Diluted Earnings per Share of $ 7.57 , up 46 % Annual Dividend per Share Increased to $ 2.64 , up 47 % Mississauga , February 17 , 2021 : goeasy Ltd. ( TSX : GSY ) , ( “ goeasy ” or the “ Company ” ) , a leading full- service provider of goods and alternative financial services , announced its results for the fourth quarter and full year ended December 31 , 2020 . Fourth Quarter Results The Company continued to experience an improving level of loan originations , complemented by strong credit performance , leading to record financial results . During the quarter , the Company generated a record $ 334 million in total loan originations , up 7 % compared to the $ 314 million produced in the fourth quarter of 2019. The improved originations led to growth in the loan portfolio of $ 64 million during the quarter , which finished at $ 1.25 billion , up 12 % from $ 1.11 billion as of December 31 , 2019. The growth in the consumer loan portfolio , combined with a decline in claims paid under the Company's loan protection plan , led to an increase in revenue , which was a record $ 173 million in the quarter , up 5 % over the same period in 2019 . During the quarter , the Company also continued to experience strong credit and payment performance . The net charge - off rate for the fourth quarter was 9.0 % , compared to 13.3 % in the fourth quarter of 2019 . Although the Company has experienced an overall improvement in the underlying credit performance of its consumer loan portfolio , the exact timing and pace of an economic recovery remains uncertain . As such , the Company held its allowance for future credit losses broadly flat at 10.08 % , versus 10.03 % in the third quarter . Improved operating leverage and lower credit losses , led to record operating income of $ 61.3 million , up 32 % from $ 46.5 million in the fourth quarter of 2019 , while the operating margin expanded to 35.4 % , up from 28.1 % in the prior year . During the quarter , the Company recorded an additional $ 13.9 million after- tax unrealized fair value gain related to the sale of its minority equity investment in PayBright , in connection with the previously announced sale of its shares of PayBrightto Affirm Holdings Inc. ( " Affirm ” ) . Net income in the fourth quarter was a record $ 48.9 million , up from $ 6.7 million in the same period of 2019 , which resulted in diluted earnings per share of $ 3.14 , up from $ 0.46 in the fourth quarter of 2019 . Return on equity was 45.8 % , up from 8 % in the fourth quarter of 2019. After adjusting for a $ 13.9 million after - tax unrealized fair value gain recorded in the fourth quarter of 2020 related to the sale of the Company's minority equity investment in PayBright and adjusting for the one - time $ 16 million after - tax charge associated with the refinancing of the Company's notes payable completed in the fourth quarter