08:29 AM EDT, 05/09/2025 (MT Newswires) -- Fiera Capital ( FRRPF ) on Friday slashed its quarterly dividend after reporting a decline in first-quarter adjusted earnings.

The independent asset management firm booked adjusted net earnings of $25.4 million, or $0.20 per diluted share, dropping from $26.1 million, or $0.24 per diluted share, and missing the analyst consensus non-GAAP earnings forecast of $0.22 compiled by FactSet.

Revenue fell to $162.9 million from $168.1 million, coming in below the analyst consensus sales forecast of $166.9 million compiled by FactSet.

The company -- citing the "uncertain and rapidly changing economic environment" -- cut the quarterly dividend to $0.108 per class A share and class B share from $0.216. The new dividend is payable June 19 to shareholders of record on May 22.

"While free cashflow remains resilient and is expected to continue to improve going forward, we wanted to ensure that we maintain the financial flexibility to allocate capital to accretive opportunities such as share buy backs and strategic growth initiatives, all while reducing leverage and continuing to improve operating efficiencies," said Lucas Pontillo, Fiera's executive director and CFO.

Fiera's share price gained 2.3% on Thursday to $6.55 on the TSX.