Sun Life Financial (SLF) reported Q1 underlying earnings late Thursday of 1.82 Canadian dollars (1.31) per diluted share, up from CA$1.50 a year earlier.

Analysts polled by FactSet expected CA$1.70.

As of March 31, the company had cash, cash equivalents and short-term securities of CA$617 million.

Further, the company said it increased its quarterly dividend to CA$0.88 per share from CA$0.84, payable June 30 to shareholders of record as of May 28.

Shares of the company fell 2.8% in after-hours activity.

Price: 58.28, Change: -1.66, Percent Change: -2.77