CI Financial profit up on strong sales, lifts dividend

Thu Nov 7, 2013 12:22pm EST
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TORONTO Nov 7 (Reuters) - Canadian asset manager CI Financial Corp reported a higher profit and an increase in its dividend on Thursday as assets under management and sales climbed and its big bet on equity market gains paid off.

For the third quarter, net income rose to C$107.8 million($103.18 million), or 38 Canadian cents a share, from C$91.3 million, or 32 Canadian cents a share, in the same period a year ago. CI increased its monthly dividend by half a Canadian cent to 9.5 Canadian cents a share.