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POW.TO - Power Corporation of Canada

Discussion in 'Canadian Stocks Message Boards' started by Marvan, Apr 6, 2019.

  1. Marvan

    Marvan Member

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    Power Corporation of Canada operates as a diversified international management and holding company with interests primarily in the financial services, sustainable and renewable energy, asset management, communications, and other business sectors in North America, Europe, and Asia.

    The company operates through Lifeco, IGM Financial, and Pargesa segments.

    It offers life, health, and reinsurance products and services, as well as retirement and investment, and asset management services; annuities, executive benefits, and mortgage products; wealth management products and services; institutional investment solutions; and pension and investment products.

    The company also manages and distributes mutual funds and other managed asset products; and offers investment advisory and related services.

    In addition, it owns La Presse, the French-language news media providing content on various platforms, such as digital, Website, and smartphones; generates renewable energy through solar and wind facilities; manufactures specification-grade LED lighting solutions; and operates equity investment funds, as well as provides healthcare services.

    Further, it holds interests in various sectors, such as specialty minerals; cement, aggregates, and concrete; inspection, verification, testing, and certification; sporting goods; wines and spirits; precious metals recycling; oil, gas, and chemical; disposable hygiene products; equipment supply and project management; and leisure parks.

    The company was founded in 1925 and is based in Montréal, Canada. Power Corporation of Canada is a subsidiary of Pansolo Holding Inc
     
  2. Marvan

    Marvan Member

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  3. Marvan

    Marvan Member

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  4. Marvan

    Marvan Member

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    Power Corporation Announces Preliminary Results of Substantial Issuer Bid

    Readers are referred to the section "Forward-Looking Statements" at the end of this release. All figures are expressed in Canadian dollars.

    MONTRÉAL, April 15, 2019 /CNW Telbec/ - Power Corporation of Canada (the "Corporation" or "PCC") (TSX: POW) today announced the preliminary results of its substantial issuer bid (the "PCC Offer") to repurchase for cancellation up to $1.35 billion of its subordinate voting shares ("Shares"). The PCC Offer expired at 2:00 p.m. on April 13, 2019.

    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 its preliminary results from its own substantial issuer bid (the "Great-West Offer") whereby Great-West expects to take up and purchase for cancellation approximately 59.7 million common shares of Great-West ("Great-West Shares") (including Great-West Shares tendered by notice of guaranteed delivery) at a purchase price of $33.50 per Great-West Share. Great-West Shares expected to be purchased under the Great-West Offer represent approximately 6.0% of the issued and outstanding Great-West Shares on a non-diluted basis at the time that the Great-West Offer was announced. After giving effect to the Great-West Offer, approximately 928.7 million Great-West Shares are expected to be issued and outstanding.

    Power Financial announced today its preliminary results from its own substantial issuer bid (the "PFC Offer") whereby Power Financial expects to take up and purchase for cancellation approximately 50.0 million common shares of Power Financial ("PFC Shares") (including PFC Shares tendered by notice of guaranteed delivery) at a purchase price of $33.00 per PFC Share. PFC Shares expected to be purchased under the PFC Offer represent approximately 7.0% of the issued and outstanding PFC Shares on a non-diluted basis at the time that the PFC Offer was announced. After giving effect to the PFC Offer, approximately 664.1 million PFC Shares are expected to be issued and outstanding.

    PCC tendered a significant portion of its PFC Shares on a proportionate basis and all remaining tendered PFC Shares on a non-proportionate basis. PCC's ownership in PFC is expected to decrease from approximately 65.5% to approximately 64.1% following completion of the PFC Offer. PCC expects to use the proceeds it receives from its participation in the PFC Offer to fund the PCC Offer.

    Power Corporation announced today that, in accordance with the terms and conditions of the PCC Offer and based on a preliminary count by Computershare Trust Company of Canada, as depositary for the PCC Offer, of the approximately 45.5 million Shares deposited to the PCC Offer (including those deposited by shareholders tendering on a proportionate basis) the Corporation expects to take up and purchase for cancellation approximately 40.9 million Shares (including Shares tendered by notice of guaranteed delivery) at a purchase price of $33.00 per Share. Shares expected to be purchased under the PCC Offer represent approximately 9.8% of the issued and outstanding Shares on a non-diluted basis at the time that the PCC Offer was announced. After giving effect to the PCC Offer, approximately 376.6 million Shares are expected to be issued and outstanding. The Corporation's principal shareholder, The Desmarais Family Residuary Trust, did not participate in the PCC Offer.

    As the PCC Offer was oversubscribed, shareholders who made auction tenders at or at less than $33.00 and purchase price tenders are expected to have approximately 90% of their maximum take-up of Shares purchased by the Corporation, other than "odd lot" tenders, which are not subject to proration.



    https://www.powercorporation.com/en...ary-results-of-substantial-issuer-bid-122584/
     
  5. Marvan

    Marvan Member

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    Power Corporation Announces Final Results of Substantial Issuer Bid

    MONTRÉAL,April 17, 2019/CNW Telbec/ - Power Corporation ofCanada(the "Corporation" or "PCC") (TSX: POW) today announced that, under the Corporation's substantial issuer bid (the "PCC Offer"), it has taken up and is purchasing for cancellation 40,909,041 of its subordinate voting shares ("Shares") at a purchase price of$33.00per Share representing$1.35 billionof its subordinate voting shares.

    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$33.50per common share.

    Power Financialannounced today that it has taken up and is purchasing for cancellation 49,999,973 of its common shares at a purchase price of$33.00per common share of Power Financial (the "PFC Shares"). 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.

    Prior to the announcement of the PFC Offer, the Corporation beneficially owned and exercised control over 467,839,296 PFC Shares, representing approximately 65.5% of the issued and outstanding PFC Shares, on a non-diluted basis. As a result of the PFC Offer, the Corporation will beneficially own and exercise control over 425,402,926 PFC Shares, or approximately 64.1% of the issued and outstanding PFC Shares, on a non-diluted basis, after giving effect to the cancellation of PFC Shares pursuant to the PFC Offer.

    Power Corporationannounced today the final results of its substantial issuer bid. Shares purchased under the PCC Offer represent approximately 9.8% of the issued and outstanding Shares on a non-diluted basis prior to the take-up of Shares. After giving effect to the purchase, the number of issued and outstanding Shares is 376,598,019, on a non-diluted basis.

    A total of approximately 45.5 million Shares were properly tendered to the PCC Offer and not withdrawn, including those deposited by shareholders tendering on a proportionate basis. As the PCC Offer was oversubscribed, shareholders who made auction tenders and purchase price tenders will have approximately 90% of their maximum take-up of Shares purchased by the Corporation, other than "odd lot" tenders, which are not subject to proration.

    The Desmarais Family Residuary Trust (the "Trust"), the Corporation's ultimate controlling shareholder, did not participate in the PCC Offer.

    Following completion of the PCC Offer, the Trust will continue to beneficially own, directly or indirectly, 48,363,392 Shares and 48,697,962 of the Corporation's participating preferred shares (which were not subject to the PCC Offer), which represent, after giving effect to the cancellation of Shares following the Offer, approximately 12.8% and 99.7%, respectively, of the issued and outstanding shares of such classes and 61.9% and 22.8%, respectively, of the votes associated with, and quantity of, the total outstanding shares of the Corporation.

    https://www.powercorporation.com/en/news/press-releases/2019/power-corporation-announces-final-results-of-substantial-issuer-bid-122585/?utm_campaign=PCC_SIB_Final_Results_ENG&utm_medium=email&utm_source=emailicious
     
  6. Marvan

    Marvan Member

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    Consolidated Results of Power Corporation For the period ended March 31

    Highlights

    • Power Corporation announced on April 17, 2019 the successful completion of its substantial issuer bid to repurchase for cancellation $1.35 billion of its subordinate voting shares. The Corporation also announced its participation in Power Financial Corporation's (Power Financial) substantial issuer bid to repurchase for cancellation $1.65 billion of its common shares. Power Corporation's proceeds from its participation in the Power Financial substantial issuer bid were $1.4 billion. As a result, the Corporation's direct interest in Power Financial decreased to 64.1% (65.5% at March 31, 2019).
    • The Board of Directors today declared a 6% increase in the quarterly dividend from 38.20 cents to 40.50 cents per share on the Corporation's participating shares.
    https://web.tmxmoney.com/article.php?newsid=7648170541730865&qm_symbol=POW:CA
     
    #6 Marvan, May 30, 2019
    Last edited: May 30, 2019
    TomB16 likes this.
  7. TomB16

    TomB16 Active Member

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    Are you at all concerned about the debt this company is carrying? It appears to be on a trajectory headed for trouble to me.
     
  8. Marvan

    Marvan Member

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    TomB16 likes this.
  9. Marvan

    Marvan Member

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    Established dividend payer and good value

    PWF's ability to maintain an adequate level of cash to meet upcoming liabilities is a good sign for its financial health.

    This implies that PWF manages its cash and cost levels well, which is a crucial insight into the health of the company.

    PWF appears to have made good use of debt, producing operating cash levels of 0.42x total debt in the prior year.

    This is a strong indication that debt is reasonably met with cash generated.

    PWF's share price is trading at below its true value, meaning that the market sentiment for the stock is currently bearish.

    According to my intrinsic value of the stock, which is driven by analyst consensus forecast of PWF's earnings, investors now have the opportunity to buy into the stock to reap capital gains.

    Also, relative to the rest of its peers with similar levels of earnings, PWF's share price is trading below the group's average.

    This bolsters the proposition that PWF's price is currently discounted.

    https://finance.yahoo.com/news/why-power-financial-corporation-tse-125840333.html
     
  10. Marvan

    Marvan Member

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    Power Corporation
    Consolidated results for the period ended June 30

    Highlights

    • On April 17, 2019, Power Corporation successfully completed its substantial issuer bid to repurchase for cancellation $1.35 billion of its subordinate voting shares representing 9.8% of the issued and outstanding subordinate voting shares.
    • On June 1, 2019, Great-West Life & Annuity (GWL&A) completed the sale of substantially all of its individual life insurance and annuity business to Protective Life Insurance Company. The transaction, valued at $1.6 billion, frees up capital and allows Great-West Lifeco Inc. (Lifeco) to focus on the defined contribution retirement and asset management markets in the U.S. segment.
    • On July 30, 2019, Power Energy Corporation acquired a 100% equity interest in Nautilus Solar Energy, LLC, a company headquartered in New Jersey, U.S. that acquires, develops, finances and manages distributed solar projects across community, municipal/utility-scale, commercial and industrial markets.
    https://www.powercorporation.com/en...se_EN&utm_medium=email&utm_source=emailicious
     
    TomB16 likes this.

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