Power Corporation to Issue Preferred Shares Raising Up to $200 Million

An update from Power Corp of Canada ( (TSE:POW) ) is now available.

Power Corporation of Canada announced the issuance of 6,000,000 Non-Cumulative First Preferred Shares, Series H, priced at $25.00 per share, with an annual dividend yield of 5.75%, aiming to raise $150 million in gross proceeds. The offering, underwritten by a syndicate led by BMO Capital Markets, RBC Capital Markets, and Scotiabank, could increase to $200 million if an additional 2,000,000 shares are purchased. The proceeds will be used for general corporate purposes, and the shares will be offered in Canadian provinces and territories.

The most recent analyst rating on (TSE:POW) stock is a Buy with a C$64.00 price target. To see the full list of analyst forecasts on Power Corp of Canada stock, see the TSE:POW Stock Forecast page.

Spark’s Take on TSE:POW Stock

According to Spark, TipRanks’ AI Analyst, TSE:POW is a Outperform.

Power Corp of Canada has a strong overall stock score driven by robust earnings growth and strategic initiatives highlighted in the earnings call. The company’s solid financial performance and attractive valuation further support its position. However, technical indicators suggest caution due to potential overbought conditions.

To see Spark’s full report on TSE:POW stock, click here.

More about Power Corp of Canada

Power Corporation is an international management and holding company that focuses on financial services across North America, Europe, and Asia. Its core holdings include leading insurance, retirement, wealth management, and investment businesses, along with a portfolio of alternative asset investment platforms.

Average Trading Volume: 2,241,541

Technical Sentiment Signal: Buy

Current Market Cap: C$37.57B

See more insights into POW stock on TipRanks’ Stock Analysis page.