AGF Management Ltd. says it has repurchased 503,300 AGF Class B shares of during the fourth quarter of its fiscal year ended November 30.

The purchases were made pursuant to AGF’s current normal course issuer bid. The average price paid was $17.02 per share.

“The share repurchases demonstrate management’s strong confidence in AGF’s business and in our future,” said Blake Goldring, president and CEO of AGF, in a news release. “We believe that given the strength of our balance sheet, the quality of our products and the improving outlook for our industry, the shares represent good value and are a prudent use of free cash flow.”

The directors of AGF have declared a dividend of 8¢ a share on the Class B and Class A common shares.

http://www.newswire.ca/en/releases/archive/December2003/09/c1159.html