08:18 AM EDT, 04/08/2025 (MT Newswires) -- AGF Management (AGF-B.TO) on Tuesday reported a decrease in adjusted net income for the first quarter even as revenue rose. The company also increased its quarterly dividend to 12.5 cents per share compared with 11.5 cents per share in the prior quarter for both the Class B Non-Voting shares and the Class A Voting common shares.

The company reported adjusted net income attributable to equity owners of $32.1 million, or $0.48 adjusted diluted earnings per share, for the three months ended Feb. 28, compared with $33.7 million, or $0.51 adjusted diluted EPS, a year earlier. Total adjusted revenue for Q1 increased to $111.5 million compared with $103 million a year-ago.

Adjusted revenue from AGF Capital Partners fell to $23.6 million from $24.4 million a year earlier. The company noted that the year-over-year decrease was driven by change in fair value adjustments, offset by the consolidation of KCPL financial results.

"In a challenging market environment shaped by political change, we have excelled and continued to deliver on our strategy," said AGF Chief Executive Kevin McCreadie. "Our long-term approach aims to deliver on our strategic imperatives; while also ensuring we can thrive through changing market cycles and uncertainty."

The quarterly dividend will be payable on April 23, to shareholders of record on April 14.

AGF had total assets under management and fee-earning assets of $53.8 billion at the end of February compared with $45 billion at the end of February 2024.

Shares of the company closed down about 1% to $9.09 on Monday on the Toronto Stock Exchange.