GWL’s and IGM’s lower contributions lead to a decrease in operating earnings for the parent company
Quarterly profit dropped at Power Financial Corp. as its subsidiaries suffered from stock losses and credit charges, the Montreal-based financial services holding company said Tuesday.Power Financial, a unit of Power Corp of Canada said it had net earnings, including special items, of $195 million, or 24¢ a share, for the three months ended March 31. […]
Power Financial Corp. swung to a loss for the fourth quarter as the weakening economy led to charges at the firm’s operating subsidiaries.The net loss for the fourth quarter ended Dec. 31, 2008, was $773 million, or $1.12 per share, compared with net earnings of $532 million, or 73¢ a share, for the same period […]
Proceeds to raise insurer’s capital levels, fund acquistions
Power Financial Corp. announced Friday the successful completion and closing of an offering of 7 million Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series M, priced at $25 per share to raise gross proceeds of $175 million.The issue was bought by an underwriting group led by BMO Capital Markets and Scotia Capital Inc. Following the […]
Holding company boosts dividend
Power Financial Corp. today reported a higher quarterly profit thanks in part to sharply higher earnings at its life insurance subsidiary.
Gratton steps down as chairman
Income rises at Great-West Lifeco, IGM Financial
Exposure to Great-West Lifeco and IGM Financial, at a discount, make Power Financial a worthy consideration