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Power Financial raises quarterly dividend

Power Financial Corp.'s board declared a quarterly dividend of 45.55 Canadian cents per common share, up 5.2% from the previous payout.

The dividend will be paid May 1 to shareholders of record March 29.

Power Financial also posted net earnings attributable to common shareholders of C$478 million, or 67 cents per share, for the fourth quarter of 2018, compared with C$225 million, or 32 cents per share, in the prior-year period.

Adjusted net earnings attributable to common shareholders amounted to C$460 million, or 65 cents per share, for the quarter, down from C$547 million, or 77 cents per share, in the fourth quarter of 2017.

Net earnings attributable to common shareholders for full year 2018 totaled C$2.25 billion, or C$3.15 per share, up from C$1.72 billion, or C$2.41 per share, in 2017.

The company reported adjusted net earnings attributable to common shareholders of C$2.28 billion, or C$3.20 per share, for the year, compared with C$2.14 billion, or C$2.99 per share, in 2017.