AGF Management Q2 Earnings, AuM Rise

(RTTNews) - AGF Management Ltd. (AGFMF, AGF-B.TO), a diverse asset management firm, on Wednesday reported that its net income increased in the second quarter compared with the previous year.

For the second quarter, net income grew to C$24.3 million from C$18.1 million in the prior year.

Earnings per share were C$0.36 versus C$0.27 last year.

On the adjusted basis, net income also climbed to C$26 million from C$23.6 million last year.

Adjusted earnings per share were C$0.39 versus C$0.35 in the previous year.

EBITDA increased to C$36.2 million from C$26.6 million in the previous year.

Adjusted EBITDA climbed to C$39.5 million from C$37 million in the prior year.

Adjusted revenue increased to C$99 million from C$97 million in the prior year.

AGF reported total assets under management and fee-earning assets of c$53.5 billion, compared to last year's C$47.8 billion.

Further, the company has announced a quarterly dividend per share of 12.5 cents.

On Tuesday, AGF closed trading 4.06% higher at C$13.34 on the Toronto Stock Exchange and $8.82 on the OTC market.