Business

Power Corporation of Canada reports 2011 First Quarter Financial Results and Dividends

May 13, 2011 (Canada NewsWire Group) -- Readers are referred to the sections entitled "F...

articlePower Corporation Of CanadaMay 13, 20113/company/power-corporation-of-canada/news/power-corporation-of-canada-reports-2011-first-quarter-financial-results-and-dividends
Power Corporation of Canada reports 2011 First Quarter Financial Results and Dividends

About this update from Power Corporation Of Canada

[{"type":"text","content":"\n\n\n May 13, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nReaders are referred to the sections entitled "Forward-Looking\n Statements" and "Non-IFRS Financial Measures" at the end of this\n release. The Corporation's financial results are reported under\n International Financial Reporting Standards (IFRS) and all comparative\n figures have been restated accordingly.\n\n\nMONTREAL, May 13 /CNW Telbec/ - Power Corporation of Canada's operating\n earnings for the three-month period ended March 31, 2011 were\n $228 million or $0.47 per share, compared with $219 million or\n $0.46 per share in the corresponding period in 2010.\n\n\nThe increase in operating earnings reflects a higher contribution from\n Power Financial Corporation.\n\n\nPower Corporation's share of operating earnings for the period from its\n subsidiaries was $248 million, compared with $239 million in the\n corresponding period of 2010.\n\n\nFor the first quarter of 2011, other items were a charge of $2 million.\n In the corresponding period of 2010, other items were a charge of $44\n million and consisted mainly of an impairment charge on the value of\n the Corporation's investment in CITIC Pacific, as required by IFRS.\n\n\nAs a result, net earnings attributable to participating shareholders for\n the three-month period ended March 31, 2011 were $216 million or\n $0.47 per share, compared with $165 million or $0.36 per share in the\n first quarter o...

More updates from Power Corporation Of Canada