The Globe and Mail reports in its Friday, Aug. 7, edition that Canaccord Genuity Group posted revenue of $377.7-million for its first quarter ended June 30, which it said is the company's highest quarterly revenue on record. The Globe's Brenda Bouw writes that in the same period a year ago, Canaccord reported revenue of $325.5-million.
Net income was $29-million or 22 cents per share versus net income of $24.3-million or 18 cents a year ago. Analysts were expecting earnings of 16 cents and revenue of $285-million.
The company also increased its quarterly dividend to 5.5 cents per share up from five cents.
Chief executive officer Dan Daviau said in a statement: "Our performance for the fiscal first quarter reflects our agile and defensive business mix that allows us to shift resources where needed to ensure excellent client experiences in any environment. We achieved record quarterly revenues, with all businesses contributing to our profitability, and, in keeping with our commitment to increase shareholder returns, we increased our quarterly common share dividend by 10 per cent."
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