Power Corp. of Canada (POW.TO) Wednesday said fourth-quarter profit attributable to common shareholders plunged to C$278 million or C$0.39 per share from C$533 million or C$0.75 per share in the same quarter last year.
Net earnings attributable to participating shareholders totaled C$82 million or C$0.18 per share, compared to C$314 million or C$0.68 per share last year.
Operating earnings attributable to common shareholders dropped to C$406 million or C$0.57 per share from C$422 million or C$0.60 per share last year.
Operating earnings attributable to participating shareholders totaled C$222 million or C$0.48 per share, compared to C$241 million or C$0.52 per share last year.
On average, seven analysts polled by Thomson Reuters expected the company to earn C$0.54 per share for the quarter. Analysts' estimates typically exclude special items.
The company's Board of Directors have declared a quarterly dividend of $0.29 per share on the participating preferred shares and subordinate voting shares of the corporation, payable March 28, to shareholders on record March 22.
For comments and feedback: editorial@rttnews.com