Business
Power Corporation of Canada - Six-month financial results and dividends
Power Corporation of Canada - Six-month financial results and dividends
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\n\n Aug. 6, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\nReaders are referred to the sections entitled "Forward-looking Statements" and "Non-GAAP Financial Measures" at the end of this release.\n\nWINNIPEG, Aug. 6 /CNW Telbec/ - Power Corporation of Canada's operating earnings for the six-month period ended June 30, 2010 were $476 million or $0.99 per share, compared with $412 million or $0.86 per share in the corresponding period of 2009. This represents a 16.1% increase on a per share basis.\nSubsidiaries contributed $518 million to Power Corporation's operating earnings for the six-month period ended June 30, 2010, compared with $420 million in the corresponding period of 2009. Results from corporate activities represented a charge of $42 million in the six-month period ended June 30, 2010, compared with a charge of $8 million in the same period in 2009, mainly due to lower income from investments and income tax recoveries in 2009.\nEarnings from other items were $3 million or $0.01 per share in the six-month period ended June 30, 2010, compared with a charge of $34 million or $0.08 per share in the corresponding period of 2009, and consisted mainly of the Corporation's share of non-operating results recorded by Power Financial Corporation.\nAs a result, net earnings for the six-month period ended June 30, 2010 were $479 million or $1.00 per share, compared with $378 million or $0.78 per share in the corresponding period of 2009.\n\n\n >\n\n\nFor the quarter ended June 30, 2010, operating earnings of the Corporation were $257 million or $0.54 per share, compared with $223 million or $0.47 per share in the second quarter of 2009. This represents an increase of 15.5% on a per share basis.\nSubsidiaries contributed $279 million to Power Corporation's operating earnings in the second quarter of 2010, compared with $273 million in the second quarter of 2009. Results from corporate activities represented a cha...