Power Financial Corporation (PWF.TO) a provider of financial services, Wednesday reported a fall in fourth-quarter earnings, reflecting reduced contributions to operating earnings from its subsidiaries.
For the period, the firm posted net earnings attributable to shareholders of C$278 million, down from C$533 million last year. On a per share basis, earnings for the period totaled C$0.39 versus C$0.75 for the corresponding quarter a year ago.
Operating earnings for the period stood at C$406 million, down from C$422 million a year earlier.
The company has declared a dividend of 35 Canadian cents per share, payable on May 1 to shareholders of record on March 28.
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