Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Canada
  4. Toronto Stock Exchange
  5. Power Corporation of Canada
  6. News
  7. Summary
    POW   CA7392391016

POWER CORPORATION OF CANADA

(POW)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Power Financial shares jump on buyout offer by parent

12/13/2019 | 11:53am EDT
Power Financial Corp's Co-Chairman of the Board Paul Desmarais Jr. prepares for the company's annual general meeting in Montreal

Shares of Power Financial Corp (PFC) rose nearly 10% on Friday, their biggest jump in more than a decade, after parent Power Corp of Canada (PCC) agreed to buy the rest of the stake it does not currently own.

PCC, which owns 64.1% of PFC, has offered 1.05 of its shares and C$0.01 in cash for each Power Financial share held.

PCC co-chief executive officers, Paul Desmarais and André Desmarais, will step down from the roles after 23 years, the companies said, with PFC CEO Jeffrey Orr taking charge.

Paul will continue as chairman and André as deputy chairman of PCC.

The Canadian company said it would save about C$50 million ($37.59 million) per year in cost reductions within two years of the deal close, expected in February.

Shares of PCC were up 7.4% at C$34.25 in morning trade.

The company said it would raise its second quarter dividend by 10% to 44.75 Canadian cents per share.

(Reporting by C Nivedita in Bengaluru; Editing by Shinjini Ganguli)


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
FIRST FINANCIAL CORPORATION -1.28% 42.34 Delayed Quote.10.40%
POWER CORPORATION OF CANADA 0.88% 40.18 Delayed Quote.36.26%
POWER FINANCIAL CORPORATION 0.00%End-of-day quote.3.92%
All news about POWER CORPORATION OF CANADA
07:56aCAPITAL POWER  : Responds to BC Hydro's Draft Integrated Resource Plan
MT
06/21Korea Electric Power Shares Slump on Grim Earnings Outlook
DJ
06/20MARKET CHATTER : South Korea's Power Consumption Rebounds to Near Pre-Pandemic L..
MT
06/16China says no leak at nuclear plant, no change to detection standards
RE
06/15Britain's biggest investor drops AIG, others from some funds over climate
RE
06/14NHPC  : Signs MoU for 130.1 MW Hydro-Electric Power Project in Bihar, India
MT
06/14CGN POWER  : Parent Says Taishan Nuclear Plant Operating Safely Amid Reports of ..
MT
06/14EDF Requests Meeting With Chinese Partner to Discuss Safety at Taishan Nuclea..
DJ
06/08Asian ADRs Losing Ground Tuesday
MT
06/07Asian ADRs Move Lower in Monday Trading
MT
More news
Financials
Sales 2021 66 951 M 54 378 M 54 378 M
Net income 2021 2 446 M 1 987 M 1 987 M
Net Debt 2021 - - -
P/E ratio 2021 11,0x
Yield 2021 4,52%
Capitalization 26 805 M 21 671 M 21 771 M
Capi. / Sales 2021 0,40x
Capi. / Sales 2022 0,38x
Nbr of Employees 30 000
Free-Float 75,8%
Chart POWER CORPORATION OF CANADA
Duration : Period :
Power Corporation of Canada Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends POWER CORPORATION OF CANADA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 39,83 CAD
Average target price 41,28 CAD
Spread / Average Target 3,63%
EPS Revisions
Managers and Directors
NameTitle
Robert Jeffrey Orr President, Chief Executive Officer & Director
Gregory Dennis Tretiak Chief Financial Officer & Executive Vice President
Paul Guy B. Desmarais Chairman
Anthony R. Graham Lead Independent Director
Pierre Beaudoin Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
POWER CORPORATION OF CANADA36.26%21 661
AXA11.85%62 051
PRUDENTIAL PLC8.13%52 751
METLIFE, INC.27.11%52 245
PRUDENTIAL FINANCIAL, INC.29.08%39 703
MANULIFE FINANCIAL CORPORATION6.31%37 822