Power Financial Corp.’s operating earnings for the six-month period ended June 30, were $891 million or $1.22 per share, compared with $830 million or $1.14 per share in the corresponding period in 2005. This represents a 6.7% increase on a per share basis.

Growth in the corporation’s operating earnings reflects an increase in the contribution from the corporation’s subsidiaries and affiliate.

Other items not included in operating earnings were a net charge of $5 million or $0.01 per share in the six-month period in 2006. Other items were nil in the six month period in 2005.

As a result, net earnings for the six-month period ended June 30, were $886 million or $1.21 per share, compared with $830 million or $1.14 per share for the same period in 2005.

For the quarter ended June 30, the corporation’s operating earnings were $483 million or $0.66 per share, compared with $449 million or $0.62 per share in the second quarter of 2005, representing an increase of 7.1% on a per share basis.

Other items for the quarter in 2006 were a charge of $5 million or $0.01 per share, compared with a credit of $2 million in the second quarter of 2005.

Net earnings for the quarter were therefore $478 million or $0.65 per share in 2006, compared with $451 million or $0.62 per share in 2005.

Subsidiary Great-West Lifeco Inc. reported net income attributable to common shareholders of $907 million for the six months ended June 30, compared to $865 million reported a year ago. On a per share basis, this result represents $1.017 per common share for the six months ended June 30, an increase of 5% (13% on a constant currency basis) compared to $0.971 per common share for 2005.

For the three months ended June 30, net income attributable to common shareholders was $461 million, compared to net income of $446 million reported a year ago. On a per share basis, this result represents $0.516 per common share for the three months ended June 30, 2006, an increase of 3% (11% on a constant currency basis) compared to $0.500 per common share for 2005.

IGM Financial Inc. reported net income for the six months ended June 30, excluding a non-cash income tax benefit, of $372 million, compared with net income of $328.6 million in 2005. Earnings per share on that basis were $1.39 in 2006, compared with $1.23 in 2005, an increase of 13%. These figures exclude a non-cash income tax benefit of $13.7 million or $0.05 per share recorded in the second quarter, resulting from decreases in the federal corporate income tax rate and their effect on the future income tax liability related to indefinite life intangible assets. Including this item, net income for the six-month period ended June 30 was $385.7 million or $1.44 per share.

For the three-month period ended June 30, IGM reported net income, excluding the income tax benefit, of $186.7 million compared with net income of $167.9 million in 2005. Earnings per share on that basis were $0.70 in the quarter in 2006, compared with earnings per share of $0.63 in the corresponding period in 2005, an increase of 11.1%. Including the effect of the non-cash income tax benefit, net earnings for the three-month period ended June 30, were $200.4 million or $0.75 per share.

The company’s board of directors also declared various quarterly dividends on the corporation’s preferred shares. It also declared a quarterly dividend of 25¢ per share on the corporation’s common shares, payable Nov. 1 to shareholders of record Sept. 29.