Business
Power Corporation of Canada - First quarter financial results and dividends
Power Corporation of Canada - First quarter financial results and dividends
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\n\n May 13, 2010 (Canada NewsWire Group) -- Readers are referred to the sections entitled "Forward-looking Statements" and "Non-GAAP Financial Measures" at the end of this release.\n\nMONTREAL, May 13 /CNW Telbec/ - Power Corporation of Canada's operating earnings for the three-month period ended March 31, 2010 were $219 million or $0.46 per share, compared with $189 million or $0.39 per share in the corresponding period of 2009.\nThe increase in operating earnings reflects a higher contribution from Power Financial Corporation, partly offset by a lower level of income from investments.\nFor the three-month period ended March 31, 2010, subsidiaries contributed $239 million to the Corporation's operating earnings, compared with $147 million in the corresponding period of 2009.\nFor the first quarter of 2010, other items were a positive contribution of $5 million or $0.01 per share, compared with a charge of $38 million or $0.08 per share in the first quarter of 2009, and consisted of the Corporation's share of non-operating results recorded by Power Financial.\nNet earnings, including other items, for the three-month period ended March 31, 2010, were $224 million or $0.47 per share, compared with $151 million or $0.31 per share in the first quarter of 2009.\n\n\n >\n\n\nPower Financial Corporation's operating earnings for the three-month period ended March 31, 2010 were $381 million or $0.51 per share, compared with $252 million or $0.32 per share in the corresponding period in 2009.\nThe increase in operating earnings reflects the increase in the contribution from Power Financial's subsidiaries and Parjointco.\nFor the first quarter of 2010, other items were a positive contribution of $8 million or $0.01 per share, compared with a net charge of $57 million or $0.08 per share in the first quarter of 2009, and consisted of Power Financial's share of non-operating earnings recorded by Pargesa.\nNet earnings, including other items, for the three-month period ended March 31, 2010 were $389 million or $0.52 per share, compared with $195 million or $0.24 per share in the first quarter of 2009.\n\n\n >\n\n\nThe Board of Directors today declared quarterly dividends on the Corporation's preferred shares, as follows:\n\n\n >\n\n\nThe Board of Directors also declared a dividend of 29 cents per share on the Participa...