Saturday May 10
Power Corporation of Canada raising dividend despite lower investment gains
- Power Corporation of Canada (TSX:POW) is raising its quarterly dividend by 20 per cent, the holding company announced Friday along with its first-quarter financial report, which included higher net income despite lower investment gains
The dividend to be paid on Power Corp.'s participating preferred and subordinate voting shares will rise by 4.875 cents per share to 29 cents per share per quarter, or $1.16 on an annualized basis.
Net income was $376 million or 80 per share in the first quarter compared with up from $363 million or 78 per share in the first quarter of 2007, with the increase due to $72 million or 16 cents per share from non-operating earnings at Power Financial, its main subsidiary. Read more
Posted by The Canadian Press
Full Story: The Canadian Press
Complete Coverage: 4 stories
- CBC News - Power Corporation of Canada raising dividend despite lower investment gains
- Canadian Business Magazine - Power Corporation of Canada raising dividend despite lower investment gains
- Mix 99.9 - Power Corporation Of...
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