12:07 PM 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 profit, excluding most one-time items, totaled $23.6 million, or $0.35 per share, dropping 24% from $31.2 million, or $0.46, in the year-prior period.

Total net revenue inched up to $97 million from $95.8 million. Adjusted EBITDA fell to $37 million from $43.9 million.

The company declared a dividend of $0.115 per share, up from $0.11 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 chief executive Kevin McCreadie.

AGF's Class B shares were last seen down $0.48 to $8.23 on the Toronto Stock Exchange.

Price: 8.23, Change: -0.48, Percent Change: -5.51