One of the best mutual fund industries in Canada, the IGM Financial Inc., posted on Thursday its earnings for the third quarter, higher than before, meeting estimates, and indicated an increased quarterly dividend.
The company, based in Winnipeg, Manitoba said its net earnings for common shareholders was at 219.7 million Canadian dollars for the current quarter or 87-Canadian-cent per share, which is higher than the previous year.
IGM revenue was at 750.2 million Canadian dollars, higher than the 667.5 million the previous year. Meanwhile the average revenue forecast was expected at 755.1 million Canadian dollars and earnings at 87-Canadian-cent per share.
IGM is a Desmarais family division, with the Power Financial Corp as the umbrella, and operating mainly under the Mackenzie Investments, Invstors Group, and the Investment Planning Counsel brands.
As of Spetember 30, the company’s overall assets under management were at 140.6 billion Canadian dollars, higher than last year’s 126 billion. Under management, its mutual fund assets were at 125.2 billion Canadian dollars, higher than last year’s 111.2 billion.
The company board improved its dividend for the quarter of 2.5 cents, indicating a 56.25-cent a share for IMG’s common shares that are due on January 30, 2015 to its shareholders within the record as of December 31, 2014.
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