The Investment Reporter, in its June 16, 2023, issue, refreshes its buy of Power Corp. of Canada, recently $35.14. The Reporter said buy 24 times from Dec. 12, 1995, to April 7, 2023, at prices ranging from $20.50 to $63.00 (the stock split 2:1 in July, 1998, and then split 2:1 again in July, 2004). Assuming an investment of $1,000 for each of the 24 buys, the $24,000 position would now be worth $52,499. Power Corp. is a Canadian multinational diversified management and holding company. Its investment holdings include Great-West Lifeco, IGM Financial and Groupe Bruxelles Lambert. For the three months ended March 31, 2023, Power Corp. earned $514-million, or 77 cents a share, compared with earnings of $442-million, or 65 cents a share, in the same period of 2022. Insurance company Great-West contributed $549-million to profit in Q1 2023, up from $474-million in the same period a year earlier. In March, Power increased its quarterly dividend from 49.5 cents to 52.5 cents a share. The latter is equal to an attractive yield of 6.0 per cent. The Reporter says buy Power Corp. of Canada for growth and income.
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