May 7, 2010 / 3:56 PM / 8 years ago

UPDATE 1-IGM Financial profit jumps 33 pct

* Q1 earnings per share C$0.68

* Total assets under management C$123.4 billion

* Mutual fund sales for the quarter were C$1.9 billion

TORONTO, May 7 (Reuters) - IGM Financial Inc (IGM.TO), Canada’s No. 2 mutual fund company, said on Friday its first-quarter profit jumped 33 percent amid soaring mutual fund sales.

Winnipeg, Manitoba-based IGM said net income was C$178.7 million, or 68 Canadian cents a share, compared with net income of C$133.5 million or 51 Canadian cents a share a year earlier.

Mutual fund sales totaled C$1.9 billion compared with C$1.4 billion, with net sales of C$560 million, up from C$309 million a year ago.

Total assets under management as of March 31 were C$123.4 billion, up 25 percent.

IGM also said its board declared a dividend of C$0.5125 per common share and a C$0.36875 for each 5.90 percent, non-cumulative first preferred share.

The common share dividend is payable on July 30 and the preferred share dividend is payable on Aug. 3.

$1=$1.04 Canadian Reporting by Pav Jordan; editing by Rob Wilson

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