Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Canada
  4. Toronto Stock Exchange
  5. Power Financial Corporation
  6. News
  7. Summary
    PWF   CA73927C1005


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Power Financial : Announces Results of Conversion Rights of Non-Cumulative 5-Year Rate Reset First Preferred Shares, SeriesáP

01/20/2016 | 05:34pm EDT

January 20, 2016


Readers are referred to the section entitled 'Forward-Looking Statements' at the end of this release.

MONTRÉAL, Jan. 20, 2016/CNW Telbec/ - Power Financial Corporation (TSX: PWF PWF.PR.P) announced today that 2,234,515 of its outstanding 11,200,000 Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series P (the 'Series P shares') will be converted on February 1, 2016, on a one-for-one basis, into Non-Cumulative Floating Rate First Preferred Shares, Series Q (the 'Series Q shares') of Power Financial.

As a result, on February 1, 2016, Power Financial will have issued and outstanding 8,965,485 Series P shares and 2,234,515 Series Q shares.

The Series P shares are currently listed on the Toronto Stock Exchange under the symbol PWF.PR.P. The Series Q shares will be listed on the Toronto Stock Exchange under the symbol PWF.PR.Q.

Power Financial Corporation is a diversified management and holding company that has interests, directly or indirectly, in companies in the financial services sector in Canada, the United States, Europeand Asia. It also has diversified investments in industrial companies based in Europe. Power Financial Corporation is a member of the Power Corporation Group of Companies. To learn more, visit www.powerfinancial.com.

Forward-Looking Statements

Certain statements in this News Release, other than statements of historical fact, are forward-looking statements based on certain assumptions and reflect Power Financial Corporation's (the 'Corporation') current expectations, or with respect to disclosure regarding the Corporation's public subsidiaries, reflect such subsidiaries' disclosed current expectations. Forward-looking statements are provided for the purposes of assisting the reader in understanding the Corporation's financial performance, financial position and cash flows as at and for the periods ended on certain dates and to present information about management's current expectations and plans relating to the future and the reader is cautioned that such statements may not be appropriate for other purposes. These statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of the Corporation and its subsidiaries, the conversion of the Series P shares into Series Q shares and the listing of the Series Q shares, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as 'expects', 'anticipates', 'plans', 'believes', 'estimates', 'seeks', 'intends', 'targets', 'projects', 'forecasts' or negative versions thereof and other similar expressions, or future or conditional verbs such as 'may', 'will', 'should', 'would' and 'could'.

By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, many of which are beyond the Corporation's and its subsidiaries' control, affect the operations, performance and results of the Corporation and its subsidiaries and their businesses, and could cause actual results to differ materially from current expectations of estimated or anticipated events or results. These factors include, but are not limited to: the impact or unanticipated impact of general economic, political and market factors in North Americaand internationally, interest and foreign exchange rates, global equity and capital markets, management of market liquidity and funding risks, changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates), the effect of applying future accounting changes, business competition, operational and reputational risks, technological change, changes in government regulation and legislation, changes in tax laws, unexpected judicial or regulatory proceedings, catastrophic events, the Corporation's and its subsidiaries' ability to complete strategic transactions, integrate acquisitions and implement other growth strategies, and the Corporation's and its subsidiaries' success in anticipating and managing the foregoing factors.

The reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances, including that the list of factors in the previous paragraph, collectively, are not expected to have a material impact on the Corporation and its subsidiaries. While the Corporation considers these assumptions to be reasonable based on information currently available to management, they may prove to be incorrect.

Other than as specifically required by applicable Canadian law, the Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.

Additional information about the risks and uncertainties of the Corporation's business and material factors or assumptions on which information contained in forward-looking statements is based is provided in its disclosure materials, including its most recent Management's Discussion and Analysis and Annual Information Form, filed with the securities regulatory authorities in Canadaand available at www.sedar.com.

SOURCE Power Financial Corporation

Power Financial Corporation issued this content on 2016-01-20 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-20 22:33:03 UTC

Original Document: http://www.powerfinancial.com/en/news/press-releases/view/727/

ę Publicnow 2016
03/17POWER FINANCIALá : Dividends on Preferred Shares
01/04POWER FINANCIALá : Announces Dividend Rates on Non-Cumulative 5-Year Rate Reset ..
2020POWER FINANCIALá : Announces Conversion Rights for Non-Cumulative 5-Year Rate Re..
2020POWER FINANCIALá : Corporation and Financial Announce Completion of Reorganizati..
2020POWER FINANCIALá : S&P Dow Jones Indices Announces Changes to the S&P/TSX Compos..
2020POWER FINANCIALá : Announces Shareholder Approval of Reorganization Transaction
2020Billionaire Lawrence Stroll shifts Aston Martin into the fast lane
2020POWER FINANCIALá : Announces Receipt of Interim Order and Mailing of Management ..
2019POWER FINANCIAL CORPORATION : Ex-dividend day for
2019POWER OF CANADAá : Early Warning Filing by Desmarais Family Residuary Trust in c..
More news
Sales 2020 64 616 M 52 464 M 52 464 M
Net income 2020 2 046 M 1 661 M 1 661 M
Net Debt 2020 10 189 M 8 273 M 8 273 M
P/E ratio 2020 11,8x
Yield 2020 -
Capitalization 24 113 M 17 697 M 19 578 M
EV / Sales 2019 0,71x
EV / Sales 2020 0,53x
Nbr of Employees 28 400
Free-Float -
Income Statement Evolution
Managers and Directors
Robert Jeffrey Orr President, Chief Executive Officer & Director
Gregory Dennis Tretiak Chief Financial Officer & Executive Vice President
T. Timothy Ryan Director
Gary A. Doer Director
Siim Alden Vanaselja Director