Business
Six-month results and dividend
Readers are referred to the sections entitled "Forward-looking Statements" and "Non-GAAP Financia...
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\n\nReaders are referred to the sections entitled "Forward-looking\nStatements" and "Non-GAAP Financial Measures" at the end of this release.\n\n\nWINNIPEG, Aug. 7 /CNW Telbec/ - Power Corporation of Canada's operating\nearnings for the six-month period ended June 30, 2009 were $412 million or\n$0.86 per share, compared with $685 million or $1.45 per share in the\ncorresponding period of 2008. Subsidiaries contributed $420 million to Power\nCorporation's operating earnings for the six-month period ended June 30, 2009,\ncompared with $692 million in the corresponding period of 2008.\n\n\nThe decrease in operating earnings reflects a lower contribution from\nPower Financial Corporation.\n\n\nOther items were a charge of $34 million or $0.08 per share in the\nsix-month period ended June 30, 2009, compared with earnings of $386 million\nor $0.85 per share in the corresponding period of 2008, and consisted mainly\nof the Corporation's share of non-operating results recorded by Power\nFinancial. Included in the 2008 amount is $313 million representing the\nCorporation's share of the gain recorded by Great-West Lifeco on the disposal\nof its U.S. healthcare business.\n\n\nAs a result, net earnings for the six-month period ended June 30, 2009\nwere $378 million or $0.78 per share, compared with $1,071 million or $2.30\nper share in the corresponding period of 2008.\n\n\nSECOND-QUARTER RESULTS\n----------------------\n\n\nFor the quarter ended June 30, 2009, operating earnings of the\nCorporation were $223 million or $0.47 per share, compared with $381 million\nor $0.81 per share in the second quarter of 2008. Subsidiaries contributed\n$273 million to Power Corporation's operating earnings in the second quarter\nof 2009, compared with $383 million in the second quarter of 2008.\n\n\nOther items for the second quarter in 2009 were earnings of $4 million or\n$0.01 per share, compared with $314 million or $0.69 per share in same quarter\nof 2008.\n\n\nNet earnings for the quarter were $227 million or $0.48 per share in\n2009, compared with $695 million or $1.50 per share in 2008.\n\n\nRESULTS OF POWER FINANCIAL CORPORATION\n--------------------------------------\n\n\nPower Financial Corporation's operating earnings for the six-month period\nended June 30, 2009 were $694 million or $0.92 per share, compared with $1,08...