Power Financial Corp.’s share of operating earnings from its subsidiaries and affiliate for the quarter ended March 31, increased to $176 million from $153 million during the same period in 2000. The company said the increase is due to continued growth in the operating earnings of Great-West Lifeco Inc. and Investors Group Inc.

Other operating items, which include income from investments, operating expenses, interest expense and income taxes, brought net operating earnings to $177 million, or 49¢ a share, from $152 million, or 42¢ a share in 2000, an increase of 17%.

Other income was $21 million, compared with $28 million a year ago. In both cases, other income consists of the company’s net share of gains on the disposition of long-term holdings within the Pargesa group.

Including other income of a non-recurring nature, Power Financial’s consolidated net earnings for the quarter were $198 million or 55¢ a share, as against $180 million or 50¢ a share in the same quarter of 2000.

The company declared a dividend of 22¢ a share on the common shares. Dividends were a also declared on the company’s preferred shares.