Power offers top holdings

Article Excerpt

POWER CORP. $28.62 (Toronto symbol POW; Shares outstanding: 414.4 million; Market cap: $13.5 billion; TSINetwork Rating: Above Average; Divd. yield: 5.3%; www.powercorporation.com) is a holding company with a diversified list of businesses. It holds its financial assets through its 65.6%-owned Power Financial. Power Financial’s assets include 67.6% interest in insurer Great-West Lifeco and 61.5% of mutual-fund provider IGM Financial. Through its 50% stake in Parjointco, Power Financial also holds 55.5% of Swiss-listed Pargesa Holdings SA. Pargesa has 95% of its assets in seven large European firms. In the three months ended June 30, 2018, Power Corp.’s earnings per share were unchanged at $0.75. More specifically, Power Financial’s per-share earnings improved 5.7%, but were offset by a loss on investments at the company’s Sagard Capital business. Power Corp. raised its dividend 6.6% in June 2018. The stock now yields 5.3%. Power Corp. is a buy. buy…

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