March 26, 2008 / 12:20 PM / in 10 years

AGF Management reports higher profit, ups dividend

TORONTO (Reuters) - AGF Management AGFb.TO reported a first-quarter profit on Wednesday that nearly doubled and upped its dividend by 25 percent, as Canada’s third-largest publicly traded fund management enjoyed higher revenues.

AGF reported net income from continuing operations of $62.7 million ($62 million), or 70 Canadian cents a share, in the three months ended February 29, up from $36.3 million, or 42 Canadian cents a share, in the same quarter a year ago.

The company also raised its dividend to 25 Canadian cents per share from 20 Canadian cents per share, which will be payable on April 21.

($1=$1.01 Canadian)

Reporting by Frank Pingue; Editing by Scott Anderson

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