TORONTO, ONTARIO--(Marketwire - Feb. 22, 2012) - Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A)
For the period ended December 31 | Twelve Months | ||||||
($ in thousands, except per share amounts) | 2011 | 2010 | |||||
Net revenues | $ | 74,161 | $ | 65,293 | |||
Operating earnings | 17,133 | 13,539 | |||||
Net gains on securities | 829 | 3,393 | |||||
Net earnings available to shareholders | 16,457 | 16,983 | |||||
Adjusted cash flow from operations available to shareholders | 19,341 | 18,360 | |||||
Per Share | |||||||
Net earnings available to shareholders: | |||||||
- Basic | $ | 0.51 | $ | 0.52 | |||
- Diluted | 0.50 | 0.51 | |||||
Adjusted cash flow from operations available to shareholders: | |||||||
- Basic | 0.60 | 0.56 | |||||
- Diluted | 0.59 | 0.55 |
Assets under management were $15.9 billion as at December 31, 2011 compared to $16.3 billion as at December 31, 2010. Assets under administration (AUA) were $8.7 billion as at December 31, 2011, compared to $7.8 billion as at December 31, 2010. The increase in AUA resulted substantially from the new life insurance MGA subsidiary.
Net earnings available for shareholders for the year 2011 were $16.5 million or $0.50 per share, diluted, compared to $17.0 million or $0.51 per share, diluted, for 2010.
Adjusted cash flow from operations available to shareholders for the year was $19.3 million or $0.59 per share, diluted, compared to $18.4 million or $0.55 per share, diluted for 2010.
The fair value of corporate holdings of securities as at December 31, 2011 was $364.2 million, or $11.17 per share, diluted, compared to $383.6 million, or $11.57 per share, diluted, as at December 31, 2010.
The Board of Directors has declared an "eligible" dividend of $0.17 per share, payable on March 16, 2012 to shareholders of record on March 9, 2012. This is an increase in the dividend from the $0.16 paid in 2011.
2012 marks the 50th year of operation for Guardian Capital Group Limited, a diversified financial services company founded in 1962. Guardian provides institutional and high net worth investment management services to clients; provides financial services to international investors; and provides services to financial advisors in its national mutual fund dealer, securities dealer, and insurance distribution network. Its Common and Class A shares are listed on The Toronto Stock Exchange.
Contact Information:
Vern Christensen
Senior Vice-President, Finance and Secretary
(416) 947-4093
Guardian Capital Group Limited
George Mavroudis
President and Chief Executive Officer
(416) 364-8341