(March 22 – 10:10 ET) – Sceptre Investment Counsel Inc. is reporting lower financial results. The firm says earnings for the three months ended February 29, 2000 were $3,653,000 or 27¢ per share, down from 29¢ per share (or $3,965,000) in the period last year. Revenue for the quarter was $13.3 million down from $14.5 million in Q1 1999.

Sceptre is the 43rd ranked mutual fund manager with $549 million under management at the end of February, down from $727.2 million a year ago.

In an effort to keep shareholders happy Sceptre is maintaining last year’s dividend of 26¢ per share despite the lower results. The dividend is payable on outstanding class A non-voting shares and common shares payable April 14 to shareholders of record March 31.
-IE Staff