Bank of Nova Scotia - BNS.t

Bank of Nova Scotia - BNS.t commonly known as Scotiabank, is the third largest bank in Canada by deposits and market capitalization. Scotiabank serves more than 21 million customers in over 55 countries around the world and offers a broad range of products and services including personal and commercial banking, wealth management, corporate and investment banking.

On May 31, 2016 the company reported Numbers

Second Quarter Highlights on a reported basis (versus Q2, 2015)			Second Quarter Year to Date Highlights on a reported basis (versus YTD 2015)
•	Net income of $1,584 million, compared to $1,797 million		•	Net income of $3,398 million, compared to $3,523 million
•	Earnings per share (diluted) of $1.23 compared to $1.42		•	Earnings per share (diluted) of $2.66 compared to $2.77
•	ROE of 12.1%, compared to 15.1%		•	ROE of 13.0%, compared to 14.7%
Second Quarter Highlights adjusting for the restructuring charge(1) (versus Q2, 2015)			Second Quarter Year to Date Highlights adjusting for the restructuring charge(1) (versus YTD 2015)
•	Net income of $1,862 million, compared to $1,797 million		•	Net income of $3,676 million, compared to $3,523 million
•	Earnings per share (diluted) of $1.46 compared to $1.42		•	Earnings per share (diluted) of $2.89 compared to $2.77
•	ROE of 14.4%, compared to 15.1%		•	ROE of 14.1%, compared to 14.7%

Scotiabank reported second quarter net income of $1,584 million compared to $1,797 million in the same period last year. Diluted earnings per share were $1.23, compared to $1.42 in the same period a year ago. Return on equity was 12.1% compared to 15.1% last year.
During the second quarter, the Bank recorded a restructuring charge of $278 million after tax ($378 million pre-tax). Adjusting for the restructuring charge, net income increased 4% to $1,862 million and diluted earnings per share rose 3% to $1.46 compared to last year. Return on equity was 14.4% compared to 15.1% a year ago.
"The strength of our results this quarter underscores the continued strong performance of both our Canadian Banking and International Banking businesses," said Brian Porter, President and CEO of Scotiabank. "Both businesses delivered solid asset and deposit growth and our strategy to deepen relationships with our customers has translated into growth. Partly offsetting our earnings growth were elevated loan losses in the energy sector, which are expected to decline beginning next quarter.
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http://canadastockjournal.blogspot.com/2016/03/bank-of-nova-scotia-bnst.html

Yamana Gold Inc. - YRI.t

Yamana Gold Inc. - YRI.t operates significant gold production, development, and exploration properties in Brazil, Argentina, Chile, Mexico and Colombia. The Company expects production of approximately 1.23m to 1.31m gold at AISC of $ 800 and silver production of 6.9m to 7.2m at $ 10.20

On May 4, 2016 the company released Numbers

"YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY) ("Yamana" or "the Company") is herein reporting its financial and operational results for the first quarter 2016, including net earnings of $38.4 million or $0.04 per share, adjusted earnings⁽¹⁾ of $28.8 million or $0.03 per share, and net free cash flow^(1,2) of $56.0 million. Additional highlights are provided as follows:
OPERATIONAL HIGHLIGHTS

• Total gold production of 308,061 million ounces at by-product cash costs⁽¹⁾ and all-in sustaining costs ("AISC")^(1,3) per ounce of $590 and $804, respectively.
• Silver production of approximately 1.9 million ounces at co-product cash costs and AISC per ounce of $7.71 and $10.64, respectively.
• Copper production of 25.9 million pounds at co-product cash costs and AISC per pound of $1.54 and $1.85, respectively.

FINANCIAL HIGHLIGHTS

• Revenue⁽⁴⁾ of $430.3 million, a decrease of $27.8 million compared to the first quarter of 2015 due to lower metal prices and planned lower silver and copper production.
• Net earnings⁽⁴⁾ of $38.4 million or $0.04 per share, an increase of $173.6 million or $0.19 per share compared to the first quarter of 2015.
• Adjusted earnings^(1,4) of $28.8 million or $0.03 per share, an increase of $66.3 million or $0.07 per share compared to the first quarter of 2015.
• Mine operating earnings of $90.0 million, an increase of $51.9 million compared to first quarter of 2015.
• Cash flows from operating activities after net change in working capital of $122.8 million or $0.13 per share, an increase of $108.4 million or $0.11 per share compared to the first quarter of 2015.
• Cash flows from operating activities before net change in working capital ⁽¹⁾ of $128.1 million or $0.14 per share, an increase of $32.1 million or $0.03 per share compared to the first quarter of 2015.
• General and administrative expenses of $21.8 million, a decrease of $5.5 million compared to the first quarter of 2015.

(All amounts are expressed in United States dollars unless otherwise indicated.)
1.	Refers to a non-GAAP measure. Reconciliation of non-GAAP measures are available at www.yamana.com/Q12016.
2.	Net Free Cash Flow is calculated as cash flows from operating activities of continuing operations adjusted for non-discretionary expenditures from sustaining capital expenditures and interest and financing expenses paid related to the current period.
3.	Includes cash costs, sustaining capital, corporate general and administrative expense and exploration expense.
4.	From continuing operations attributable to Yamana equity holders.

Key operating and financial statistics for the first quarter 2016 are outlined in the following tables:
KEY STATISTICS

	Three Months Ending Mar 31st
(In millions of United States Dollars except for shares and per share amounts, unaudited)	2016		2015
Revenue	430.3		458.1
Cost of sales excluding depletion, depreciation and amortization	(232.8	)	(282.1	)
Depletion, depreciation and amortization	(107.5	)	(137.9	)
General and administrative expenses	(21.8	)	(27.3	)
Exploration and evaluation expenses	(3.1	)	(5.4	)
Mine operating earnings	90.0		38.1
Net earnings/(loss) from continuing operations	38.4		(135.2	)
Net earnings/(loss) from continuing operations per share	0.04		(0.15	)
Adjusted earnings/(loss) from continuing operations	28.8		(37.5	)
Adjusted earnings/(loss) from continuing operations per share	0.03		(0.04	)
Cash flow generated from continuing operations after changes in non-cash working capital	122.8		14.4
Per share	0.13		0.02
Cash flow from operations before changes in non-cash working capital	128.1		96.0
Per share	0.14		0.11
Average realized gold price per ounce	1,189		1,217
Average realized silver price per ounce	14.94		16.74
Average realized copper price per pound	2.25		2.89

PRODUCTION SUMMARY - FINANCIAL AND OPERATING SUMMARY

	Three Months Ending Mar 31st
	2016	2015
Gold produced	308,061	299,108
Gold sold	299,877	296,167
Silver produced (millions of ounces)	1.93	2.48
Silver sold (millions of ounces)	1.88	2.44
Copper produced - Chapada (millions of pounds)	25.9	26.8
Copper sold - Chapada (millions of pounds)	22.7	26.7
	Three Months Ending Mar 31st
Gold	2016	2015
Cash costs per ounce	$590	$651
Co-product cash costs per ounce	$604	$699
All-in sustaining costs per ounce	$804	$889
All-in sustaining costs per ounce, co-product basis	$786	$898
Silver	2016	2015
Cash costs per ounce	$7.44	$7.46
Co-product cash costs per ounce	$7.71	$8.08
All-in sustaining costs per ounce	$10.64	$11.01
All-in sustaining costs per ounce, co-product basis	$10.42	$11.05
Cash costs per pound of copper - Chapada	$1.54	$1.82
All-in sustaining costs per pound of copper - Chapada	$1.85	$2.14

http://canadastockjournal.blogspot.com/2016/05/yamana-gold-inc-yrit.html

Pembina Pipeline Corporation - PPL.t

Pembina Pipeline Corporation - PPL.t is using a strong record of profitable growth to expand beyond the core business of operating conventional crude oil and natural gas liquids feeder pipelines. The company now provides a full spectrum of midstream and marketing services, gas gathering and processing, as well as transportation support to Alberta’s oil sands industry.

On May 5, 2016 the company released Numbers

"Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today its financial and operating results for the first quarter of 2016.

Financial Overview

($ millions, except where noted)		3 Months EndedMarch 31 (unaudited)
		2016	2015
Conventional Pipelines revenue volumes (mbpd)(1)(2)		670	633
Oil Sands & Heavy Oil contracted capacity (mbpd)(1)		880	880
Gas Services average revenue volumes (mboe/d) net to Pembina(2)(3)		113	113
Midstream Natural Gas Liquids ("NGL") sales volumes (mbpd)(1)		141	129
Total volume (mboe/d)		1,804	1,755
Revenue		1,017	1,154
Net revenue(4)		394	375
Operating margin(4)		315	284
Gross profit		237	228
Earnings		102	120
Earnings per common share – basic and diluted (dollars)		0.23	0.32
Adjusted EBITDA(4)		269	241
Cash flow from operating activities		271	120
Cash flow from operating activities per common share – basic (dollars)(4)		0.72	0.35
Adjusted cash flow from operating activities(4)		209	213
Adjusted cash flow from operating activities per common share – basic (dollars)(4)		0.56	0.63
Common share dividends declared		172	148
Preferred share dividends declared		14	10
Dividends per common share (dollars)		0.46	0.44
Capital expenditures		375	498

							3 Months Ended March 31(unaudited)
							2016		2015
($ millions)							NetRevenue(4)	OperatingMargin(4)	NetRevenue(4)	OperatingMargin(4)
Conventional Pipelines							175	128	154	98
Oil Sands & Heavy Oil							52	33	55	35
Gas Services							53	37	54	37
Midstream							114	114	113	113
Corporate								3	(1)	1
Total							394	315	375	284

(1)	mbpd is thousands of barrels per day.
(2)	Revenue volumes are equal to contracted plus interruptible volumes.
(3)	Average revenue volumes converted to mboe/d (thousands of barrels of oil equivalent per day) from million cubic feet per day ("MMcf/d") at 6:1 ratio.
(4)	Refer to "Non-GAAP Measures."

 Highlights

• Realized record revenue volumes for the second consecutive quarter; Conventional Pipelines also reached record volumes with an average of 670 mbpd;
• Safely placed over $740 million assets into service, including $226 million in the first quarter of 2016 and an estimated$515 million subsequent to quarter end relating to RFS II, Musreau III and the Resthaven Expansion (as defined below);
• Achieved Adjusted EBITDA of $269 million, 12 percent or $28 million higher than the first quarter of 2015;
• Cash flow from operating activities increased by 126 percent to $271 million ($0.72 per common share-basic) as compared to the first quarter of 2015;
• Closed a $566 million (including closing adjustments) acquisition of a 250 MMcf/d gas processing plant and associated midstream infrastructure from Paramount Resources subsequent to quarter end;
• Received regulatory and environmental approval for the 270 kilometre, 24 and 16 inch Fox Creek to Namao, Albertapipeline portion of Pembina's Phase III Expansion;
• Increased the monthly dividend by 4.9 percent from $0.1525 per common share per month (or $1.83 annually) to $0.16per common share per month (or $1.92 annually), effective for the dividend payable on May 13, 2016;
• Raised $765 million including $170 million through a preferred share issuance, $345 million through a common share issuance and, subsequent to quarter end, an additional $250 million through a preferred share issuance; and
• Increased Pembina's unsecured revolving credit facility from $2 billion to $2.5 billion.

http://canadastockjournal.blogspot.com/2016/05/pembina-pipeline-corporation-pplt.html