Power Corporation of Canada (POW.TO: Quote) reported that its second-quarter net earnings attributable to participating shareholders were C$282 million or C$0.62 per share, down from C$356 million or C$0.77 per share in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of C$0.56 per share. Analysts' estimates typically exclude special items.
Operating earnings attributable to participating shareholders for the quarter were C$292 million or C$0.64 per share, compared with C$356 million or C$0.77 per share in the corresponding period in 2011.
Total revenues for the quarter rose to C$8.52 billion from C$7.95 billion in the prior year quarter.
The company said its Board of Directors also declared a dividend of C$0.29 per share on the Participating Preferred and Subordinate Voting Shares of the Corporation, payable September 28, 2012 to shareholders of record September 7, 2012.
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by RTT Staff Writer
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