TORONTO, ONTARIO--(Marketwire - Feb. 24, 2011) - Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A) -
For the period ended December 31 | Three Months | Twelve Months | ||||||
($ in thousands, except per share amounts) | 2010 | 2009 | 2010 | 2009 | ||||
Revenues, net of commissions paid to advisors | $ | 19,322 | $ | 18,207 | $ | 68,458 | $ | 62,364 |
Net earnings | 5,513 | 6,934 | 15,075 | 14,274 | ||||
Cash flow from operations, before change in non-cash working capital | 4,707 | 5,362 | 16,463 | 14,778 | ||||
Per Share | ||||||||
Basic net earnings | $ | 0.17 | $ | 0.20 | $ | 0.46 | $ | 0.41 |
Diluted net earnings | 0.16 | 0.20 | 0.45 | 0.41 | ||||
Basic cash flow from operations, before change in non-cash working capital | 0.14 | 0.16 | 0.50 | 0.42 | ||||
Diluted cash flow from operations, before change in non-cash working capital | 0.14 | 0.15 | 0.49 | 0.42 |
Assets under management were $16.3 billion as at December 31, 2010 compared to $14.0 billion as at December 31, 2009. Assets under administration (AUA) were $7.8 billion as at December 31, 2010, compared to $7.1 billion as at December 31, 2009.
Net earnings for the year 2010 were $15.1 million or $0.45 per share, diluted, compared to $14.3 million or $0.41 per share, diluted, for 2009. Net earnings for 2009 include a benefit of $2.0 million, or $0.06 per share, diluted, as a result of the decrease in future Ontario income taxes enacted during that year.
Cash flow from operations before change in non-cash working capital for the year was $16.5 million or $0.49 per share, diluted compared to $14.8 million or $0.42 per share, diluted for 2009.
The fair value of corporate holdings of securities as at December 31, 2010 was $379.4 million, or $11.39 per share, diluted, compared to $362.5 million, or $10.49 per share, diluted, as at December 31, 2009.
The Board of Directors has declared an "eligible" dividend of $0.16 per share, payable on March 18, 2011 to shareholders of record on March 11, 2011. This is an increase in the dividend from the $0.15 paid in 2010.
Guardian Capital Group Limited is 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: Guardian Capital Group Limited
Vern Christensen
Senior Vice-President, Finance and Secretary
(416) 947-4093
or
Guardian Capital Group Limited
George Mavroudis
President
(416) 364-8341