Great-West Life Raises Dividend By 6% On Strong Earnings

Insurer Great-West Lifeco (GWO) has raised its quarterly dividend by 6% to $0.52 per share following strong fourth quarter results.

The Winnipeg-based company reported base earnings of $892 million, or $0.96 per share, compared with $825 million, or $0.89 a share, last year.

Net earnings amounted to $1.03 billion, or $1.10, compared with $765 million, or $0.82 per share, a year earlier.

Great-West Life said that its diversified portfolio of investments performed well despite challenging market conditions.

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The company added that it had assets under administration of $2.5 trillion at the end of 2022, an increase of 9% from a year earlier.

Great-West Lifeco’s stock is down 11% over the past year at $35.91 per share.