He said the sum will be larger when including money to be invested by subsidiaries like Power Financial. The 130-year-old newspaper is owned by Square Victoria Communications Group, a subsidiary of Power, which plans to grant $50 million to the venture. Under the new structure, Power Corp. would no longer own the media company or have any ties with the not-for-profit structure. Power Corp. says its net earnings more than doubled to a record $525 million or $1.13 per share in the first quarter, compared with $258 million or 56 cents per share in the prior year quarter. Power increased its quarterly dividend 6.6 per cent to 38.20 cents per share, payable June 29 to shareholders of record June 8.

Source: thestar May 11, 2018 20:37 UTC