Power Corporation of Canada Reports 2013 Third Quarter and Nine-Month Financial Results and Dividends

Power Corporation of Canada Reports 2013 Third Quarter and Nine-Month 
Financial Results and Dividends 
Readers are referred to the sections entitled "Non-IFRS Financial Measures" 
and "Forward-Looking Statements" at the end of thisrelease. 
TORONTO, Nov. 14, 2013 /CNW Telbec/ - Power Corporation of Canada (TSX: POW) 
today reported earnings results for the third quarter and nine months ended 
September 30, 2013. 
THIRD QUARTER RESULTS 
Operating earnings attributable to participating shareholders, a non-IFRS 
financial measure, for the quarter ended September 30, 2013 were $234 million 
or $0.51 per share, compared with $236 million or $0.51 per share in the 
corresponding period in 2012. 
Excluding the impact of acquisition and restructuring costs associated with 
the Irish Life Group Limited (Irish Life) acquisition by Great-West Lifeco 
Inc. (Lifeco), operating earnings attributable to participating shareholders 
were $262 million or $0.57 per share. 
Subsidiaries contributed $267 million to Power Corporation's operating 
earnings, compared with $295 million in the same period in 2012. Results from 
corporate activities were a net charge of $20million, compared with a net 
charge of $47million in the corresponding period in2012. 
Other items, not included in operating earnings, resulted in a net charge of 
$28million, representing an impairment charge recorded by Square Victoria 
Communications Group Inc. In the corresponding quarter of 2012, other items 
represented a net charge of $36 million. Additional details on other items can 
be found in the section entitled "Other Items" below. 
Net earnings attributable to participating shareholders were $206 million or 
$0.45 per share, compared with $200 million or $0.43 per share in the 
corresponding period in 2012. 
NINE-MONTH RESULTS 
Operating earnings attributable to participating shareholders for the nine 
months ended September 30, 2013 were $741 million or $1.61 per share, compared 
with $728 million or $1.58 per share in the corresponding period in 2012. 
Excluding the impact of acquisition and restructuring costs associated with 
the Irish Life acquisition by Lifeco, operating earnings attributable to 
participating shareholders were $775million or $1.68 per share. 
Other items, not included in operating earnings, resulted in a net charge of 
$64 million, compared with a contribution of $9 million in the corresponding 
period in 2012. 
Net earnings attributable to participating shareholders were $677 million or 
$1.47 per share, compared with $737 million or $1.60 per share for the same 
period in 2012. 
RESULTS OF POWER FINANCIAL 
Power Financial reported net and operating earnings attributable to common 
shareholders for the quarter ended September 30, 2013 of $434million or 
$0.61 per share, compared with $458million or $0.65 per share in the 
corresponding period in 2012. 
For the nine months ended September 30, 2013, Power Financial reported 
operating earnings attributable to common shareholders of $1,305 million or 
$1.83 per share, compared with $1,273million or $1.80 per share in the 
corresponding period in 2012. 
Including other items, net earnings attributable to common shareholders were 
$1,303 million or $1.83 per share for the nine months ended September 30, 
2013, compared with $1,341million or $1.90 per share for the same period in 
2012. 
At September 30, 2013, Power Corporation held a 65.8% interest in Power 
Financial. Power Financial's contribution to Power Corporation's operating 
earnings was $286 million for the quarter ended September 30, 2013, compared 
with $302 million in the same period in 2012. For the nine months ended 
September 30, 2013, Power Financial contributed $859million to Power 
Corporation's operating earnings, compared with $840 million for the same 
period in 2012. 
DIVIDENDS ON NON-PARTICIPATING PREFERRED SHARES 
The Board of Directors today declared quarterly dividends on the Corporation's 
preferred shares, as follows: 
 ____________________________________________________________________
|SERIES - STOCK|RECORD DATE      |PAYMENT DATE    |AMOUNT            |
|SYMBOL        |                 |                |                  |
|______________|_________________|________________|__________________|
|              |                 |                |At a floating rate|
|              |                 |                |equal to one      |
|1986 Series - |                 |                |quarter of 70% of |
|POW.PR.F      |December 24, 2013|January 15, 2014|the average prime |
|              |                 |                |rate of two major |
|              |                 |                |Canadian chartered|
|              |                 |                |banks( [1])       |
|______________|_________________|________________|__________________|
|Series A -    |December 24, 2013|January 15, 2014|35¢               |
|POW.PR.A      |                 |                |                  |
|______________|_________________|________________|__________________|
|Series B -    |December 24, 2013|January 15, 2014|33.4375¢          |
|POW.PR.B      |                 |                |                  |
|______________|_________________|________________|__________________|
|Series C -    |December 24, 2013|January 15, 2014|36.25¢            |
|POW.PR.C      |                 |                |                  |
|______________|_________________|________________|__________________|
|Series D -    |December 24, 2013|January 15, 2014|31.25¢            |
|POW.PR.D      |                 |                |                  |
|______________|_________________|________________|__________________|
|Series G -    |December 24, 2013|January 15, 2014|35¢               |
|POW.PR.G      |                 |                |                  |
|______________|_________________|________________|__________________| 
([1]) In accordance with the articles of the Corporation 
DIVIDENDS ON PARTICIPATING SHARES 
The Board of Directors also declared a quarterly dividend of 29 cents per 
share on the Participating Preferred Shares and the Subordinate Voting Shares 
of the Corporation, payable December 31, 2013 to shareholders of record on 
December 10, 2013. 
For purposes of the Income Tax Act (Canada) and any similar provincial 
legislation, all of the above dividends on the Corporation's preferred shares 
(including the Participating Preferred Shares) and Subordinate Voting Shares 
are eligible dividends. 
ABOUT POWER CORPORATION 
Power Corporation of Canada is a diversified international management and 
holding company with interests in companies in the financial services, 
communications and other business sectors in North America, Europe and Asia. 
To learn more, visit www.powercorporation.com. 


                                         EARNINGS SUMMARY

(unaudited)           Nine months ended         Three months ended     
                  September   September      September   September
                        30,         30,            30,         30,
                                           (                          (
                       2013        2012 (1))      2013        2012 (1))

Contribution to                                                        
operating
earnings from
subsidiaries (
(2))                    815         826            267         295

Results from                                                           
corporate
activities                                                        

  Income from                                                          
  investments            56          28             11        (19)

  Operating and                                                        
  other expenses       (91)        (89)           (31)        (28)

Dividends on                                                           
non-participating
shares                 (39)        (37)           (13)        (12)

Operating                                                              
earnings
attributable to
participating
shareholders            741         728            234         236

Other items (see                                                       
below)                 (64)           9           (28)        (36)

Net earnings                                                           
attributable to
participating
shareholders            677         737            206         200

Earnings per                                                           
share
(attributable to
participating
shareholders)                                                     

  - operating                                                          
  earnings             1.61        1.58           0.51        0.51

  - non-operating                                                      
  earnings           (0.14)        0.02         (0.06)      (0.08)

  - net earnings       1.47        1.60           0.45        0.43     
                                                OTHER ITEMS

(unaudited)           Nine months ended         Three months ended     
                  September   September      September   September     
                        30,         30,            30,         30,
                       2013        2012           2013        2012

Power                                                                  
Corporation's
share of Power
Financial's other
items:                                                            

  IGM                               (3)                                

  Pargesa               (2)          48                                
                        (2)          45                                

Impairment charge                                                      
on CITIC Pacific       (21)        (36)                       (36)

Charges recorded                                                       
by Square
Victoria
Communications
Group                  (41)                       (28)            
                       (64)           9           (28)        (36)     

(1) Effective January 1, 2013, the Corporation adopted revised IAS 19
    (IAS 19R), Employee Benefits. In accordance with the required
    transitional provisions, the Corporation retrospectively applied
    the revised standard. The 2012 comparative financial information in
    this News Release has been restated accordingly.

(2) Includes Power Financial and other subsidiaries of the Corporation.
    Non-IFRS Financial Measures

In analyzing the financial results of the Corporation and consistent with the 
presentation in previous years, net earnings attributable to participating 
shareholders are classified into the following components:
    --  operating earnings attributable to participating shareholders;
        and
    --  other items or non-operating earnings, which include the
        after-tax impact of any item that management considers to be of
        a non-recurring nature or that could make the
        period-over-period comparison of results from operations less
        meaningful, and also include the Corporation's share of any
        such item presented in a comparable manner by its subsidiaries
        and jointly controlled corporations and associates.

Management uses these financial measures in its presentation and analysis of 
the financial performance of Power Corporation, and believes that they provide 
additional meaningful information to readers in their analysis of the results 
of the Corporation.

Operating earnings attributable to participating shareholders and operating 
earnings per share are non-IFRS financial measures that do not have a standard 
meaning and may not be comparable to similar measures used by other entities.

Forward-Looking Statements

Certain statements in this News Release, other than statements of historical 
fact, are forward-looking statements based on certain assumptions and reflect 
the Corporation's current expectations, or with respect to disclosure 
regarding the Corporation's public subsidiaries, reflect such subsidiaries' 
disclosed current expectations. Forward-looking statements are provided for 
the purposes of assisting the reader in understanding the Corporation's 
financial performance, financial position and cash flows as at and for the 
periods ended on certain dates and to present information about management's 
current expectations and plans relating to the future and the reader is 
cautioned that such statements may not be appropriate for other purposes. 
These statements may include, without limitation, statements regarding the 
operations, business, financial condition, expected financial results, 
performance, prospects, opportunities, priorities, targets, goals, ongoing 
objectives, strategies and outlook of the Corporation and its subsidiaries, as 
well as the outlook for North American and international economies for the 
current fiscal year and subsequent periods. Forward-looking statements include 
statements that are predictive in nature, depend upon or refer to future 
events or conditions, or include words such as "expects", "anticipates", 
"plans", "believes", "estimates", "seeks", "intends", "targets", "projects", 
"forecasts" or negative versions thereof and other similar expressions, or 
future or conditional verbs such as "may", "will", "should", "would" and 
"could".

By its nature, this information is subject to inherent risks and uncertainties 
that may be general or specific and which give rise to the possibility that 
expectations, forecasts, predictions, projections or conclusions will not 
prove to be accurate, that assumptions may not be correct and that objectives, 
strategic goals and priorities will not be achieved. A variety of factors, 
many of which are beyond the Corporation's and its subsidiaries' control, 
affect the operations, performance and results of the Corporation and its 
subsidiaries and their businesses, and could cause actual results to differ 
materially from current expectations of estimated or anticipated events or 
results. These factors include, but are not limited to: the impact or 
unanticipated impact of general economic, political and market factors in 
North America and internationally, interest and foreign exchange rates, global 
equity and capital markets, management of market liquidity and funding risks, 
changes in accounting policies and methods used to report financial condition 
(including uncertainties associated with critical accounting assumptions and 
estimates), the effect of applying future accounting changes, business 
competition, operational and reputational risks, technological change, changes 
in government regulation and legislation, changes in tax laws, unexpected 
judicial or regulatory proceedings, catastrophic events, the Corporation's and 
its subsidiaries' ability to complete strategic transactions, integrate 
acquisitions and implement other growth strategies, and the Corporation's and 
its subsidiaries' success in anticipating and managing the foregoing factors.

The reader is cautioned to consider these and other factors, uncertainties and 
potential events carefully and not to put undue reliance on forward-looking 
statements. Information contained in forward-looking statements is based upon 
certain material assumptions that were applied in drawing a conclusion or 
making a forecast or projection, including management's perceptions of 
historical trends, current conditions and expected future developments, as 
well as other considerations that are believed to be appropriate in the 
circumstances, including that the list of factors in the previous paragraph, 
collectively, are not expected to have a material impact on the Corporation 
and its subsidiaries. While the Corporation considers these assumptions to be 
reasonable based on information currently available to management, they may 
prove to be incorrect.

Other than as specifically required by applicable Canadian law, the 
Corporation undertakes no obligation to update any forward-looking statement 
to reflect events or circumstances after the date on which such statement is 
made, or to reflect the occurrence of unanticipated events, whether as a 
result of new information, future events or results, or otherwise.

Additional information about the risks and uncertainties of the Corporation's 
business and material factors or assumptions on which information contained in 
forward-looking statements is based is provided in its disclosure materials, 
including its most recent Management's Discussion and Analysis and Annual 
Information Form, filed with the securities regulatory authorities in Canada 
and available at www.sedar.com.



SOURCE  Power Corporation of Canada 
Mr. Stéphane Lemay Vice-President, General Counsel and Secretary 514-286-7400 
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CO: Power Corporation of Canada
ST: Quebec
NI: FIN ERN DIV FIN  
-0- Nov/14/2013 18:58 GMT