07:09 AM EDT, 05/10/2024 (MT Newswires) -- Guardian Capital Group ( GRCGF ) overnight Thursday said first quarter profit fell even as net revenue rose.

The investment management company said net earnings attributable to shareholders was $21.2 million, or $0.86 per diluted share, compared with $487.6 last year, or $18.79 per diluted share, last year, when the net gains on the sale of the Worldsource businesses were recorded.

Net revenue for the current quarter rose 15% to $62.5 million, from $54.5 million, due to higher interest income earned on the proceed from the sale of the Worldsource businesses, along with an increase in net management and advisory fee revenue.

Guardian Capital ( GRCGF ) reported assets under management and under advisement of $61.3 billion on March 31, a 9% increase from the $56.3 billion reported on March 31, 2023.

A quarterly dividend of $0.37 per share was declared, payable on July 18,.