Australia's Insignia Financial dips 16% on surprise FY24 loss, dividend pause
** Shares of Insignia Financial IFL.AX dip as much as 16.0% to A$2.46, their biggest intra-day loss since early Sept. 2020
** Financial services company logs a surprise FY24 loss attributable of A$185.3 million ($125.00 million) vs profit of A$51.2 million a year ago
** Says profits was impacted by an increase in remediation provisions, as well as strategic investments
** Says dividends have been paused; FY total dividends fell 53% vs year ago
** Shares hit their lowest level since July 22
** Stock is the fourth-biggest loser on the ASX All Ordinaries index .AORD
** More than 3.6 mln shares change hands as compared with the 30-day average volume of 2.4 mln shares
** Stock up 25.2% this year as of last close, vs a 5.5% increase in the benchmark S&P/ASX 200 index .AXJO
($1 = 1.4824 Australian dollars)
Reporting by Roushni Nair in Bengaluru
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