(September 23 – 14:30) The directors of AGF Management Limited have declared a dividend of 8 cents per share. Class B Non-Voting Shares and Class A Voting Common Shares of the Corporation will be payable October 13, while shareholders of record will be entitled on October 5, 1999.
The corporation also announced increased earnings for the quarter ending August 31, 1999.
Consolidated net income was $16.0 million, or $0.39 per fully-diluted share. This marks a gain of 24.5 per cent over last year’s third quarter earnings.
The considerable gain has been attributed to strong net sales, an appreciation in fund portfolios, and effective cost control. The company has profited from its recent introduction of four new 100 per cent RSP eligible funds, which are based on AGF’s most popular foreign funds. New portfolio management for four other funds are expected to strengthen performance and further improve the company’s margins.
–IE Staff