Power Financial

Power Corporation Announces Executive Appointment

Retrieved on: 
Wednesday, February 14, 2024
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MONTRÉAL, Feb. 14, 2024 /CNW/ - Power Corporation of Canada (TSX: POW) ("Power Corporation" or the "Corporation") is pleased to announce that its Board of Directors has approved the appointment of Mr. Jake Lawrence as Executive Vice-President and Chief Financial Officer, effective March 18, 2024.

Key Points: 
  • MONTRÉAL, Feb. 14, 2024 /CNW/ - Power Corporation of Canada (TSX: POW) ("Power Corporation" or the "Corporation") is pleased to announce that its Board of Directors has approved the appointment of Mr. Jake Lawrence as Executive Vice-President and Chief Financial Officer, effective March 18, 2024.
  • "I am delighted to welcome Jake to Power Corporation," said R. Jeffrey Orr, President and Chief Executive Officer.
  • Mr. Lawrence will replace Mr. Gregory D. Tretiak, who joined Power Corporation in 2012 as Chief Financial Officer.
  • Mr. Lawrence will also serve as Executive Vice-President and Chief Financial Officer of Power Financial Corporation, a subsidiary of the Corporation.

EQS-News: DEUTZ AG: Supervisory Board of DEUTZ AG extends term of appointment of CEO Dr. Sebastian C. Schulte by five years

Retrieved on: 
Thursday, February 2, 2023
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DEUTZ AG: Supervisory Board of DEUTZ AG extends term of appointment of CEO Dr. Sebastian C. Schulte by five years

Key Points: 
  • DEUTZ AG: Supervisory Board of DEUTZ AG extends term of appointment of CEO Dr. Sebastian C. Schulte by five years
    The issuer is solely responsible for the content of this announcement.
  • The Supervisory Board of DEUTZ AG today decided on the early extension of the term of appointment of CEO Dr. Sebastian C. Schulte.
  • He has now been appointed for a further five years, with his new term of office running until December 31, 2028.
  • Dr. Dietmar Voggenreiter, Chairman of the Supervisory Board of DEUTZ AG: “Following on from the new appointments to the Board of Management at the end of last year, this is another key step in preparing DEUTZ for the challenges of the future.

Power Financial - Dividends on Preferred Shares

Retrieved on: 
Wednesday, November 10, 2021
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MONTRAL, Nov. 10, 2021 /CNW Telbec/ - The Board of Directors of Power Financial Corporation (Power Financial or the Corporation) today declared the following quarterly dividends on the Corporation's preferred shares.

Key Points: 
  • MONTRAL, Nov. 10, 2021 /CNW Telbec/ - The Board of Directors of Power Financial Corporation (Power Financial or the Corporation) today declared the following quarterly dividends on the Corporation's preferred shares.
  • Dividends payable November 22, 2021 to shareholders of record November 17, 2021:
    [1] On October 18, 2021, Power Financial announced that it intends to redeem all of its outstanding 6.00% Non-Cumulative First Preferred Shares, Series I on November 22, 2021.
  • For purposes of the Income Tax Act (Canada) and any similar provincial legislation, all of the above dividends onthe Corporation's preferred shares are eligible dividends.
  • Power Financial, 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.

Power Corporation and Power Financial Announce Issue of Power Financial Preferred Shares

Retrieved on: 
Wednesday, October 6, 2021
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MONTRÉAL, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Power Corporation of Canada (“Power Corporation” or “PCC”) (TSX: POW) and Power Financial Corporation (“Power Financial” or “PFC”) announced today that Power Financial has agreed to issue 8,000,000 Non-Cumulative First Preferred Shares, Series 23 in the capital of Power Financial (the “Series 23 Shares”) on a bought deal basis, for gross proceeds of $200 million. The Series 23 Shares will be priced at $25.00 per share and will carry an annual dividend yield of 4.50%. Closing is expected on or about October 15, 2021. The issue will be underwritten by a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets and Scotiabank.

Key Points: 
  • MONTRAL, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Power Corporation of Canada (Power Corporation or PCC) (TSX: POW) and Power Financial Corporation (Power Financial or PFC) announced today that Power Financial has agreed to issue 8,000,000 Non-Cumulative First Preferred Shares, Series 23 in the capital of Power Financial (the Series 23 Shares) on a bought deal basis, for gross proceeds of $200 million.
  • Upon completion of the offering, Power Financial intends to redeem all of its outstanding $200 million First Preferred Shares, Series I.
  • Power Corporation of Canada is an international management and holding company that focuses on financial services in North America, Europe and Asia.
  • 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.

Power Corporation to Announce First Quarter 2021 Financial Results on May 13, 2021

Retrieved on: 
Friday, April 30, 2021
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b'MONTRAL, April 30, 2021 /CNW Telbec/ - Power Corporation of Canada (TSX: POW) ("Power Corporation") will release its first quarter 2021 financial results on Thursday, May 13, 2021, after markets close.\nR.

Key Points: 
  • b'MONTRAL, April 30, 2021 /CNW Telbec/ - Power Corporation of Canada (TSX: POW) ("Power Corporation") will release its first quarter 2021 financial results on Thursday, May 13, 2021, after markets close.\nR.
  • Jeffrey Orr, President and Chief Executive Officer, and Gregory D. Tretiak, Executive Vice-President and Chief Financial Officer, will discuss the results in a conference call and live audio webcast on Friday, May 14, 2021 at 2p.m.
  • A webcast archive will also be available on Power Corporation\'s website.\nPower Corporation is an international management and holding company that focuses on financial services in North America, Europe and Asia.
  • Its core holdings are leading insurance, retirement, wealth management and investment businesses, including a portfolio of alternative asset investment platforms.To learn more, visit www.PowerCorporation.com .\n'

Power Corporation Announces Completion of Internal Share Capital Reorganization of Power Financial

Retrieved on: 
Thursday, December 31, 2020
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MONTRAL, Dec. 31, 2020 /CNW Telbec/ -Power Corporation of Canada ("Power Corporation" or "PCC") (TSX: POW) today announced the completion of an internal share capital reorganization (the "Internal Reorganization") of Power Financial Corporation ("PFC"), which is intended to further simplify the PCC group corporate structure.

Key Points: 
  • MONTRAL, Dec. 31, 2020 /CNW Telbec/ -Power Corporation of Canada ("Power Corporation" or "PCC") (TSX: POW) today announced the completion of an internal share capital reorganization (the "Internal Reorganization") of Power Financial Corporation ("PFC"), which is intended to further simplify the PCC group corporate structure.
  • Prior to the Internal Reorganization, PCC held 238,693,580 common shares of PFC ("Common Shares") directly and 425,402,926 Common Shares indirectly through its wholly owned subsidiary, 171263 Canada Inc., representing, in aggregate, 100% of the issued and outstanding Common Shares.
  • Following the Internal Reorganization, PCC is the direct holder of 664,096,506 Common Shares, representing 100% of the issued and outstanding Common Shares.
  • Power Corporation is an international management and holding company that focuses on financial services in North America, Europe and Asia.

Great-West Lifeco to release third quarter 2020 financial results

Retrieved on: 
Thursday, October 22, 2020
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WINNIPEG, MB, Oct. 22, 2020 /CNW/ - Great-West Lifeco will release its third quarter 2020 financial results after markets close on Wednesday, November 4, 2020.

Key Points: 
  • WINNIPEG, MB, Oct. 22, 2020 /CNW/ - Great-West Lifeco will release its third quarter 2020 financial results after markets close on Wednesday, November 4, 2020.
  • The results will be discussed in a conference call and audio webcast hosted by company management at 3:30 p.m.
  • Great-West Lifeco is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses.
  • Great-West Lifeco and its companies have approximately $1.7 trillion in consolidated assets under administration as at June 30, 2020 and are members of the Power Corporation group of companies.

Power Corporation and Power Financial Announce Reorganization, Simplified Corporate Structure and Refocused Strategy

Retrieved on: 
Friday, December 13, 2019
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Streamlined Organization to Eliminate Dual-Holding Company Structure,

Key Points: 
  • Streamlined Organization to Eliminate Dual-Holding Company Structure,
    Power Financial Minority Shareholders to receive 1.05 Power Corporation Subordinate Voting Shares and nominal cash consideration in exchange for each Power Financial Common Share.
  • R. Jeffrey Orr, President and Chief Executive Officer of Power Financial, to become President and Chief Executive Officer of Power Corporation.
  • Focus on Financial Services PCC's strategywill emphasize financial services, including the businesses of PFC and the investment platform businesses of PCC.
  • Power Financial Corporation is a member of the Power Corporation Group of Companies.

Power Corporation and Power Financial Announce Reorganization, Simplified Corporate Structure and Refocused Strategy

Retrieved on: 
Friday, December 13, 2019
Companies, Power Corporation of Canada, Power Financial, Economy of Canada, Chief executive officer

Streamlined Organization to Eliminate Dual-Holding Company Structure,

Key Points: 
  • Streamlined Organization to Eliminate Dual-Holding Company Structure,
    Power Financial Minority Shareholders to receive 1.05 Power Corporation Subordinate Voting Shares and nominal cash consideration in exchange for each Power Financial Common Share.
  • R. Jeffrey Orr, President and Chief Executive Officer of Power Financial, to become President and Chief Executive Officer of Power Corporation.
  • Focus on Financial Services PCC's strategywill emphasize financial services, including the businesses of PFC and the investment platform businesses of PCC.
  • Power Financial Corporation is a member of the Power Corporation Group of Companies.

Power Corporation Announces Final Results of Substantial Issuer Bid

Retrieved on: 
Wednesday, April 17, 2019
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Great-West Lifeco Inc. ("Great-West") (TSX: GWO), a subsidiary of Power Financial Corporation ("Power Financial" or "PFC") (TSX: PWF), itself a subsidiary of Power Corporation, announced today that, under Great-West's substantial issuer bid, it will take up and purchase for cancellation 59,700,974 of its common shares at a purchase price of $33.50 per common share.

Key Points: 
  • Great-West Lifeco Inc. ("Great-West") (TSX: GWO), a subsidiary of Power Financial Corporation ("Power Financial" or "PFC") (TSX: PWF), itself a subsidiary of Power Corporation, announced today that, under Great-West's substantial issuer bid, it will take up and purchase for cancellation 59,700,974 of its common shares at a purchase price of $33.50 per common share.
  • The Corporation supported Power Financial through its participation in the Power Financial substantial issuer bid (the "PFC Offer") by tendering a significant portion of its PFC Shares on a proportionate basis and all remaining tendered PFC Shares on a non-proportionate basis.
  • The Corporation will fund its Offer using the proceeds from the Corporation's participation in the PFC Offer.
  • Power Corporation announced today the final results of its substantial issuer bid.