GMP should settle on the future of its wealth manager + MORE May 6th

TORONTO – Martinrea International Inc. (TSX:MRE) says net profits soared to a record $30.4 million in the first quarter amid strong sales by the auto parts maker in North America and Europe.
Toronto-based Martinrea says net profits attributable to equity holders of the company in the three months ended March 31 were $30.4 million or 36 cents per diluted share, up from $16.7 million or 20 cents in the same year-earlier period.
Consolidated sales increased by $53 million or 6.1% to $917.5 million from $864.5 million in the first quarter of 2014.
The overall increase in sales was driven by increases in North America and Europe operating segments, partially offset by a slight year-over-year decrease in sales in the Rest of the World segment.
Chief financial officer Fred Di Tosto said net earnings per share were above quarterly guidance as a result of stronger than expected performance in March and some foreign exchange gains in the quarter.
Executive chairman Rob Wildeboer said Martinrea expects to generate sales, excluding tooling sales, in the range of $920 to $960 million in the upcoming quarter, with net earnings per share in the range of 37 to 41 cents…

RioCan says it has begun negotiations with retailers that could potentially use some of the space in 15 former Target Canada stores that have been returned to the real estate investment trust.

WELLINGTON, New Zealand – Internet file-storage company Mega Ltd., launched in 2013 by indicted entrepreneur Kim Dotcom, has failed in a bid to list on New Zealand’s stock market.
Mega announced plans last year to list through a manoeuvr known as a reverse takeover.
But TRS Investments, the intended vehicle for the listing, filed a notice with the market Wednesday saying Mega had failed to get approval from its shareholders for the takeover.
Dotcom previously founded the file-sharing site Megaupload, which became wildly popular before it was shut down by U.S. authorities in 2012.
U.S. prosecutors are seeking to extradite Dotcom from New Zealand on racketeering charges, accusing him of facilitating massive piracy of songs and movies.
Dotcom says he can’t be held responsible for those who used Megaupload for illegal downloading.
The post Internet company Mega, launched by Kim Dotcom, fails to list on New Zealand stock market appeared first on Canadian Business – Your Source For Business News.

CALGARY – Pembina Pipeline Corp. (TSX:PPL) is increasing its dividend more than five per cent despite seeing revenue and profits reduced in the first quarter in the face of sharply lower oil prices.
The Calgary-based pipeline operator and midstream service provided said net income fell to $120 million or 32 cent per diluted share in the three months ended March 31. That was down from $147 million or 41 cents in the comparable year-earlier period.
Revenue fell to $1.154 billion from $1.759 billion.
Pembina said the decrease in consolidated revenue was largely due to lower gross profit in its midstream business “due to significantly lower commodity prices.”
That was partially offset by higher gross profit in conventional pipelines, gas services and the oilsands and heavy oil businesses, along with lower net finance costs and income tax.
Meanwhile, Pembina said its board had approved a 5.2 per cent increase in its monthly common share dividend to 15.25 cents from 14.5 cents, payable June 15 to shareholders of record on May 25…

Richardson GMP doesn’t make much, but might still fetch a decent sale price