Business
First quarter operating earnings increase 44% - Dividend increase 22.2%
First quarter operating earnings increase 44% - Dividend increase 22.2%.
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\n\nReaders are referred to the Forward-looking Statements and Non-GAAP\n\n\nFinancial Measures at the end of this release.\n\n\nMONTREAL, May 10 /CNW Telbec/ - Power Corporation of Canada's operating\nearnings for the three-month period ended March 31, 2007 were $363 million or\n$0.78 per share, compared with $254 million or $0.54 per share in the\ncorresponding period of 2006. This represents a 44% increase on a per share\nbasis.\n\n\nGrowth in operating earnings in 2007 reflects a strong growth in the\ncontribution from Power Financial, as well as a high level of income from\ninvestments, mainly generated by the Corporation's investment in the\nSagard 1 Fund in Europe and the Corporation's QFII operations in China.\n\n\nOther income was nil in the first quarter of 2007 as in the first quarter\nof 2006.\n\n\nAs a result, net earnings for the period were $363 million or\n$0.78 per share, compared with $254 million or $0.54 per share in the first\nquarter of 2006.\n\n\nRESULTS OF POWER FINANCIAL CORPORATION\n\n\n--------------------------------------\n\n\nPower Financial Corporation's operating earnings for the three-month\nperiod ended March 31, 2007 were $482 million or $0.66 per share, compared\nwith $408 million or $0.56 per share in the corresponding period in 2006. This\nrepresents an 18.4% increase on a per share basis.\n\n\nGrowth in operating earnings reflects primarily growth in the\ncontribution from the Power Financial's subsidiaries and affiliate.\n\n\nOther income was nil in the first quarters of 2007 and 2006, and\ntherefore net earnings, including other income, for the three-month period\nended March 31, 2007 were $482 million or $0.66 per share, compared with\n$408 million or $0.56 per share in the first quarter of 2006.\n\n\nDIVIDENDS ON PREFERRED SHARES\n\n\n-----------------------------\n\n\nThe Board of Directors today declared quarterly dividends on the\nCorporation's preferred shares, as follows:\n\n\n-------------------------------------------------------------------------\nType of shares Record Date Payment Date Amount\n-------------------------------------------------------------------------\n1986 Series June 22, 2007 July 15, 2007 To be determined\n In accordance\n with the articles\n of the Corporation\n-------------------------------------------------------------------------\nSeries A June 22, 20...