SEAMARK Asset Management Ltd. of Halifax today announced record financial results for the quarter ended June 30.

Earnings for the second quarter of 2002 were a record 24¢ per share (diluted), an increase of 41% over the 17¢ per share (diluted) earned in the second quarter 2001 and up from the 22¢ per share (diluted) earned in the first quarter of 2002.

Despite difficult equity market conditions, the firm’s assets under management continued to grow in the second quarter, reaching $8.9billion on June 30, up from $8.73 billion on March 31, and $6.16 billion on June 30, 2001. Net new asset growth in the quarter reached nearly $1 billion, more than off-setting market value depreciation resulting from weak equity markets and bringing year-to-date net new asset growth to over $2 billion.

SEAMARK’s board of directors announced a quarterly dividend of 17¢ per share.