08:22 AM EDT, 08/07/2024 (MT Newswires) -- Fiera Capital ( FRRPF ) second-quarter profit fell to $4.9 million from $10.5 million in the same three months last year.

Net earnings per basic share for the three months ended June 30 fell to $0.05 from $0.10 while revenue advanced 3.1% to $164.8 million from $159.8 million.

"Equity markets continued their strong performance in the second quarter of 2024 which, combined with growth in base management fees in private markets, resulted in a 3% year-over-year increase in total revenues," said Executive Director and Global Chief Financial Officer Lucas Pontillo. "Net cash generated by operating activities also improved both quarter-over-quarter and year-over-year."

The board approved a dividend of 21.5 cents per share, payable on Sept. 19.