Power Corporation Reports 2016 Third Quarter and Nine-Month Financial Results and Dividends

Non-operating items, not included in operating earnings, resulted in a net charge of $178 million which was mainly comprised of the Corporation's share of Groupe Bruxelles Lambert's (GBL) non-cash impairment charge as a result of a decrease in LafargeHolcim Ltd's share price, partially offset by a gain on the partial disposal of its interest in Total SA.

Net earnings attributable to participating shareholders were $623 million or $1.34 per share, compared with $1,477 million or $3.19 per share in 2015.

RESULTS OF POWER FINANCIAL CORPORATION

THIRD QUARTER RESULTS

Power Financial reported operating earnings attributable to common shareholders for the quarter ended September 30, 2016 of $541 million or $0.76 per share, compared with $596 million or $0.83 per share in 2015. 

Net earnings attributable to common shareholders were $539 million or $0.76 per share, compared with $602 million or $0.84 per share in 2015.

NINE-MONTH RESULTS

Operating earnings attributable to common shareholders for the nine months ended September 30, 2016 were $1,574 million or $2.21 per share, compared with $1,720 million or $2.41 per share in 2015. 

Non-operating items, not included in operating earnings, were a net charge of $271 million representing Power Financial's share of GBL's non-operating items, as discussed above.  

Net earnings attributable to common shareholders were $1,303 million or $1.83 per share, compared with $1,791 million or $2.51 per share in 2015.

At September 30, 2016, Power Corporation held a 65.6% economic interest in Power Financial. Power Financial's contribution to Power Corporation's operating earnings was $355 million for the quarter ended September 30, 2016, compared with $391 million in 2015. For the nine months ended September 30, 2016, Power Financial contributed $1,033 million to Power Corporation's operating earnings, compared with $1,129 million in 2015.

INCOME FROM INVESTMENTS

THIRD QUARTER RESULTS

Income from investments represented a gain of $4 million for the quarter ended September 30, 2016, compared with $144 million in 2015. The fair value of investments at the end of the quarter was $2,808 million, compared with $2,678 million at the end of 2015.

NINE-MONTH RESULTS

Income from investments represented a loss of $45 million for the nine-month period ended September 30, 2016, compared with a gain of $309 million in 2015.

DIVIDEND ON PARTICIPATING SHARES

The Board of Directors today declared a quarterly dividend of 33.50 cents per share on the Participating Preferred Shares and the Subordinate Voting Shares of the Corporation, payable December 30, 2016 to shareholders of record December 9, 2016.

DIVIDENDS ON NON-PARTICIPATING PREFERRED SHARES

The Board of Directors also declared quarterly dividends on the Corporation's preferred shares, as follows:

ABOUT POWER CORPORATION

Power Corporation of Canada is a diversified international management and holding company with interests in companies in the financial services, communications and other business sectors in North America, Europe and Asia. To learn more, visit www.powercorporation.com.

EARNINGS SUMMARY
(unaudited) (in millions of Canadian dollars, except per share amounts)		Three months ended				Nine months ended
		September 30, 2016		September 30, 2015		September 30, 2016		September 30, 2015
Operating earnings
	Power Financial	355		391		1,033		1,129
	Other subsidiaries [1]	(12)		(5)		(50)		(44)
		343		386		983		1,085
	Income from investments [2]	4		144		(45)		309
	Operating and other expenses	(30)		(33)		(98)		(99)
	Dividends on non-participating shares	(13)		(13) Werbung Mehr Nachrichten zur Power Corporation Of Canada Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 24.04.24 - PR Newswire Fidelity China Special Situations Plc - Transaction in Own Shares 24.04.24 - PR Newswire Fidelity Emerging Markets Ltd - Monthly Factsheet Solarboom 2024:    5 Gründe die für diese Aktie sprechen… weiterlesen» Anzeige wo-site-teaser-box-16746_site-teaser-box_2024-04-24_08%253A00%253A00_2024-04-25_09%253A00%253A59