Top-News
Freitag,
24.03.2017 19:15
von
PR Newswire
| Aufrufe: 86
Power Corporation Reports Fourth Quarter and 2016 Financial Results
Ein Mann liest Wirtschaftsnachrichten (Symbolbild).
pixabay.com
Canada NewsWire
MONTRÉAL, March 24, 2017
All figures are in Canadian dollars unless otherwise noted. Readers are referred to the sections "Non-IFRS Financial Measures and Presentation" and "Forward-Looking Statements" at the end of this release.
MONTRÉAL, March 24, 2017 /CNW Telbec/ - Power Corporation of Canada (TSX: POW) today reported earnings results for the fourth quarter and the twelve months ended December 31, 2016.
FOURTH QUARTER RESULTS
Net earnings attributable to participating shareholders for the quarter ended December 31, 2016 were $459 million or $0.99 per share, compared with $309 million or $0.67 per share in 2015.
Adjusted net earnings attributable to participating shareholders (a non-IFRS financial measure) were $402 million or $0.87 per share, compared with $317 million or $0.69 per share in 2015.
Other items, not included in adjusted net earnings, were a contribution of $57 million, consisting mainly of the Corporation's share of Groupe Bruxelles Lambert's (GBL) gain on the disposal of a 0.7% equity interest in Total SA (Total) and a favourable change in income tax provision estimates related to certain tax filings at IGM Financial Inc. (IGM).
2016 RESULTS
Net earnings attributable to participating shareholders for the twelve months ended December 31, 2016 were $1,082 million or $2.33 per share, compared with $1,786 million or $3.86 per share in 2015.
Adjusted net earnings attributable to participating shareholders were $1,203 million or $2.59 per share, compared with $1,573 million or $3.40 per share in 2015.
Other items, not included in adjusted net earnings, were a net charge of $121 million. In addition to the fourth quarter items discussed above, other items in the twelve-month period included the Corporation's share of GBL's non-cash impairment charge related to a decrease in LafargeHolcim Ltd's (LafargeHolcim) share price.
POWER FINANCIAL CORPORATION
FOURTH QUARTER RESULTS
Power Financial reported net earnings attributable to common shareholders of $616 million or $0.86 per share, for the quarter ended December 31, 2016, compared with $528 million or $0.74 per share in 2015.
Adjusted net earnings attributable to common shareholders were $531 million or $0.74 per share, compared with $521 million or $0.73 per share in 2015.
Other items, not included in adjusted net earnings, were a contribution of $85 million representing Power Financial's share of the items discussed above.
2016 RESULTS
Net earnings attributable to common shareholders for the twelve months ended December 31, 2016 were $1,919 million or $2.69 per share, compared with $2,319 million or $3.25 per share in 2015.
Adjusted net earnings attributable to common shareholders were $2,105 million or $2.95 per share, compared with $2,241 million or $3.14 per share in 2015.
Other items, not included in adjusted net earnings, were a net charge of $186 million representing Power Financial's share of the items discussed above.
Earlier today, Power Financial announced a 5.1% increase in the quarterly dividend on its common shares, from $0.3925 to $0.4125 per share, payable on May 1, 2017.
As at December 31, 2016, Power Corporation held a 65.6% economic interest in Power Financial. Power Financial's contribution to Power Corporation's adjusted net earnings was $347 million for the quarter ended December 31, 2016, compared with $341 million in 2015. For the twelve months ended December 31, 2016, Power Financial contributed $1,380 million to Power Corporation's adjusted net earnings, compared with $1,470 million in 2015.
INCOME FROM INVESTMENTS
FOURTH QUARTER RESULTS
Income from investments was $119 million for the quarter ended December 31, 2016, compared with $46 million in 2015. Income from investments in the quarter is comprised of gains of $111 million from the Sagard Investment Funds and a gain of $8 million from the Corporation's other investments.
2016 RESULTS
Income from investments was $74 million for the twelve months ended December 31, 2016, compared with $355 million in 2015.
DIVIDENDS ON PARTICIPATING SHARES
On February 15, 2017, as previously disclosed, the Board of Directors declared a quarterly dividend of 33.50 cents per share on the Participating Preferred Shares and the Subordinate Voting Shares of the Corporation, payable March 31, 2017 to shareholders of record March 10, 2017.
DIVIDENDS ON NON-PARTICIPATING PREFERRED SHARES
On February 15, 2017, as previously disclosed, the Board of Directors also declared quarterly dividends on the Corporation's preferred shares, as follows:
| SERIES – STOCK SYMBOL | RECORD DATE | PAYMENT DATE | AMOUNT |
| 1986 Series – POW.PR.F | March 24, 2017 | April 15, 2017 | At a floating rate equal to one quarter of |
| Series A – POW.PR.A | March 24, 2017 | April 15, 2017 | 35¢ |
| Series B – POW.PR.B | March 24, 2017 | April 15, 2017 | 33.4375¢ |
| Series C – POW.PR.C | March 24, 2017 | April 15, 2017 | 36.25¢ |
| Series D – POW.PR.D | March 24, 2017 | April 15, 2017 | 31.25¢ |
| Series G – POW.PR.G | March 24, 2017 | April 15, 2017 | 35¢ |
| |
| [1] In accordance with the articles of the Corporation |
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) | Three months ended | Twelve months ended | |||
| (in millions of Canadian dollars, except per share amounts) | December 31, | December 31, | |||
| | 2016 | 2015 | 2016 | 2015 | |
| Adjusted net earnings [1] | | | | | |
| Power Financial | 347 | 341 | 1,380 | 1,470 | |
| Other subsidiaries [2] | (15) | (22) | (65) | (66) | |
| | 332 | 319 | 1,315 | 1,404 | |
| Corporate operations | | | | | |
| Income – Sagard Investment Funds and other [3] | 119 | 46 | 74 | 355 | |
| Operating and other expenses | (36) | (35) | (134) | (134) 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 | |
