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Power Financial Corporation, a wholly owned subsidiary of Power Corporation of Canada, is an international management and holding company with interests in financial services and asset management businesses in Canada, the United States and Europe. It also has significant holdings in a portfolio of global companies based in Europe. 

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Latest reports
2018 Annual Report
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4th Quarter and Year-End 2019 Report
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Subsidiaries

Great-West Lifeco

Great-West Lifeco

Great-West Lifeco (Lifeco) is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses.

Lifeco has operations in Canada, the United States and Europe through Canada Life, Irish Life, Empower Retirement, Putnam Investments and PanAgora Asset Management.

IGM Financial

IGM Financial

IGM Financial is a leading wealth and asset management company supporting over 35,000 advisors and both individual and institutional investors throughout North America, Europe and Asia.

This network of advisors provides a broad range of financial and investment planning services to help more than two million Canadians meet their financial goals.

The company creates value for shareholders through four key areas: IG Wealth Management, Mackenzie Investments, Investment Planning Counsel, Strategic Investment.

Pargesa Holding

Pargesa Holding

Power Financial, through its wholly owned subsidiary, Power Financial Europe B.V., and the Frère family group of Belgium each hold a 50% interest in Parjointco, a Netherlands-based company. Parjointco’s principal holding is a 55.5% equity interest (75.4% of the voting rights) in Pargesa Holding SA, the Pargesa group’s parent company based in Geneva, Switzerland.

The Pargesa group, through the holding company Groupe Bruxelles Lambert, holds significant positions in large companies based in Europe.


Financial Highlights

 

For the three months ended

For the years ended

(In millions of canadian dollars, except per share amounts or as otherwise noted)
(unaudited)

Dec. 31
2019

Sept. 30
2019

Dec. 31
2018

Dec. 31
2019

Dec. 31
2018

Revenues

11,485

15,158

12,438

47,802

47,025

Net earnings attributable to common shareholders

401 584 478 1,964

2,245

Net earnings per common share

0.60 0.88 0.67 2.89

3.15

Adjusted net earning attributable to common shareholders(1)

591 590 460 2,306

2,282

Adjusted net earning per common share(1)

0.89 0.89 0.65 3.40

3.20

Dividends declared per common share

0.4555

0.4555

0.4330 1.8220

1.7320

Consolidated assets

471,372 466,573 447,055 471,372

447,055

Shareholders’ equity

20,815 20,162 21,580 20,815

21,580

Book value per common share

27.08 26.10 26.26 27.08

26.26

Common shares outstanding (in millions)

664.1 664.1 714.1 664.1

714.1

(1) Adjusted net earnings attribuable to common shareholders and adjusted net earnings per common share are non-IFRS financial measures. Refer to the "Non-IFRS Financial Measures and Presentation" section of the Corporation’s most recent Management’s Discussion and Analysis for the definition of non-IFRS financial measures and their reconciliation with IFRS financial measures.

As at and for the years ended December 31
[in millions of Canadian dollars, except as otherwise noted]
(unaudited)

2019

2018

2017

2016

2015

Consolidated Balance Sheets

         

Cash and cash equivalents

6,272

5,624 5,321 4,396

4,188

Total assets

471,372

447,055 440,224 418,407

417,630

Shareholders’ equity

20,815

21,580 20,513 19,481

19,473

Consolidated Statements of Earnings

         

Revenues

         

Total net premiums

24,489

35,440 33,880 31,125

24,501

Net investment income 

13,247

2,822 7,610 10,203

4,319

Fee income

10,066

8,763 8,497 7,794

7,692

Total revenues

47,802

47,025 49,987 49,122

36,512

Expenses

       

 

Total paid or credited to policyholders

33,091

32,068 35,643 34,675

22,842

Commissions

3,480

3,512 3,712 3,590

3,133

Operating and administrative expenses

7,237

6,997 7,002 6,380

5,883

Financing charges

435

360

432

412

413

Total expenses

44,243

42,937 46,789 45,057

32,271

Earnings before investments in jointly controlled corporations and associates, and income taxes

3,559

4,088 3,198 4,065

4,241

Share of earnings (losses) of investments in jointly controlled corporations and associates

211

94 200 (98)

224

Earnings before income taxes

3,770

4,182 3,398 3,967

4,465

Incomes taxes

601

602 584 581

679

Net earnings

3,169

3,580 2,814 3,386

3,786

Attributable to

         

Non-controlling interests

1,066

1,197 964 1,343

1,337

Perpetual preferred shareholders

139

138 133 124

130

Common shareholders

1,964

2,245 1,717 1,919

2,319

 

3,169

3,580 2,814 3,386

3,786

Per share

         

Net earnings attributable to common shareholders

2.89

3.15 2.41 2.69

3.25

Adjusted net earnings attributable to common shareholders(1)

3.40

3.20 2.99 2.99

3.14

Dividends declared on common shares

1.82

1.73

1.65

1.57

1.49

Book value per common share

27.08

26.26 24.77 23.69

23.69

Market price (Common shares)

         

High

36.02

34.88 37.00 34.70

38.78

Low

25.45

25.21 31.91 29.02

30.28

Year-end

34.94

25.83 34.54 33.56

31.81

(1) Adjusted net earnings attribuable to common shareholders per share is a non-IFRS financial measure. Refer to the "Non-IFRS Financial Measures and Presentation" section of the Corporation’s most recent Management’s Discussion and Analysis for the definition of non-IFRS financial measures and their reconciliation with IFRS financial measures.

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