Power Financial Corp. is reporting stronger profit for the first quarter ended March 31, as its subsidiaries pulled in higher earnings.

The Montreal-based holding and management company said it earned $339 million, or 92¢ a share, during the quarter. That compared with a profit of $253 million, or 68¢ a share, a year ago earlier period.

Operating earnings per share for the first quarter were 93¢ a share, compared with operating earnings per share of 71¢ in the same period a year ago.

Power Financial, which owns insurer Great-West Lifeco and mutual fund company IGM Financial, said revenues rose to $5.79 billion from $4.79 billion in the year ago period.

Profit at Great-West, Canada’s largest insurer, was $376 million, up from $253 million in the year-ago quarter. Excluding restructuring costs related to the acquisition of Canada Life Financial Corp., profit at Great-West was $383 million.

Profit at IGM Financial, which owns Investors Group, added $147.9 million, up from $119.7 million a year ago.

Power Financial also announced a two-for-one stock split and a 12% rise in its dividend.