AGF Management Ltd. today announced solid financial results for the year ended Nov. 30, 2006, with net income from continuing operations of $102.2 million, an increase of 41% from $72.7 million in fiscal 2005.

During 2006, AGF recorded a $13.3 million non-cash gain on repayment of debt and a $15.9 million reduction of future income tax liabilities. In 2005, AGF recorded a $15.6 million gain net of tax related to the disposition of Unisen.

AGF also announced an 11% quarterly dividend increase on Class A voting common and Class B non-voting shares from 18¢ per share to 20¢ per share, effective March 2007.

For the year ended Nov. 30, 2006, AGF’s cash flow from continuing operations (before net change in non-cash balances related to operations) rose 1% to $219.9 million, compared with $217.2 million in fiscal 2005. Earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations were up 3% to $251 million in 2006 from $244.8 million for the year ended 2005. Revenue also increased, rising 18% to $703.5 million.

“Our success in the areas of investment management, relationship management and product management was recognized this year by our clients as they rewarded us with more of their business” said Blake Goldring, chairman and CEO, in a news release. “We are very encouraged by our strong sales results and also pleased with improved fiscal year financial results.”

Strong relationships, popular products and industry leading investment performance translated into tangible results during the year. During fiscal 2006, AGF recorded $437 million in net sales, which is a strong improvement over the $2.7 billion in net redemptions recorded in the prior year period.

AGF finished the year by having the highest long-term net sales of any non-bank firm in Canada and AGF was third overall in the industry for the months of October and November. During the year, AGF’s institutional and PIM assets rose 34% due to new mandates and investment performance.

On Feb. 2, 2007, AGF will release sales figures for the month of January 2007. AGF expects to report the highest gross sales of any January in the history of the firm. AGF’s previous high was $687 million in gross sales, recorded in 2001.