08:16 AM EDT, 06/26/2024 (MT Newswires) -- AGF Management (AGF-B.TO) on Wednesday reported lower adjusted earnings for its fiscal second quarter ended May 31.

The company's adjusted net income totaled $24 million, or $0.35 per share, dropping from $31 million, or $0.46 per share.

Total net revenue inched up to $97 million from $96 million. Adjusted EBITDA fell to $37 million from $44 million.

The company declared a dividend of $0.115 per share, up from $0.110 per share.

"Our solid results reflect the continued strength of our investment performance driven by our disciplined investment approach and bolstered by stronger than anticipated equity market conditions over the past quarter," said Kevin McCreadie, AGF's CEO and chief investment officer.

AGF's share price rose 1% yesterday to $8.71.