Declared Dividend • Jun 28
Second quarter dividend of CA$0.14 announced Shareholders will receive a dividend of CA$0.14. Ex-date: 2nd July 2026 Payment date: 16th July 2026 Dividend yield will be 3.2%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (24% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 5.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 11% over the next 3 years. However, it would need to fall by 73% to increase the payout ratio to a potentially unsustainable range. Annonce • Jun 24
AGF Management Limited Declares Dividend for Second Quarter 2026, Payable on July 16, 2026 On June 23, 2026, the Board of Directors of AGF Management Limited declared a dividend of 13.5 cents per share on both the Class B Non-Voting shares and the Class A Voting common shares of the company. This dividend will be payable on July 16, 2026 to shareholders of record on July 2, 2026. Annonce • Jun 05
AGF Management Limited to Report Q2, 2026 Results on Jun 24, 2026 AGF Management Limited announced that they will report Q2, 2026 results at 7:00 AM, US Eastern Standard Time on Jun 24, 2026 Board Change • May 20
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 6 highly experienced directors. Independent Director Laura Dottori-Attanasio was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Apr 15
AGF Management Limited Declares First Quarter 2026 Dividend on Both the Class B Non-Voting Shares and the Class A Voting Common Shares, Payable on April 30, 2026 On April 13, 2026, the Board of Directors of AGF Management Limited declared a dividend of 13.5 cents per share on both the Class B Non-Voting shares and the Class A Voting common shares of the company. This dividend will be payable on April 30, 2026 to shareholders of record on April 21, 2026. Annonce • Apr 09
AGF Management Limited Launches Capitol Signals Subscription-Based Newsletter AGF Management Limited announced that Henrietta Treyz, Co-Founder and Director of Economic Policy at Veda Partners, will become a regular contributor as the firm launches Capitol Signals, a subscription-based newsletter. She will provide subscribers with weekly and ad hoc insights into how U.S. policy and political developments may impact global markets. Issues such as tariffs, fiscal stimulus, tax policy, the debt ceiling, and other key economic priorities in Washington, D.C will be covered. Ms. Treyz will also participate in client events and select speaking engagements, helping to deepen relationships and bring timely policy insights directly to AGF’s clients. A frequent guest on CNBC, Bloomberg and BNN, Henrietta’s insights are shaped by her extensive relationships across administrations, federal agencies, the Senate, and the House, spanning the political spectrum. The addition of Henrietta supports AGF’s efforts to deliver timely, thoughtful and differentiated insights to clients, while leveraging the depth of expertise across the firm’s internal teams and external partners. Annonce • Mar 05
AGF Management Limited to Report Q1, 2026 Results on Apr 14, 2026 AGF Management Limited announced that they will report Q1, 2026 results at 7:00 AM, US Eastern Standard Time on Apr 14, 2026 Annonce • Jan 07
AGF Management Limited to Report Fiscal Year 2025 Results on Jan 27, 2026 AGF Management Limited announced that they will report fiscal year 2025 results at 7:00 AM, US Eastern Standard Time on Jan 27, 2026 Annonce • Dec 09
AGF Management Limited Declares Dividend on Both the Class B Non-Voting Shares and the Class A Voting Common Shares for Fourth Quarter 2025, Payable on January 15, 2026 On December 8, 2025, the Board of Directors of AGF Management Limited declared a dividend of 12.5 cents per share on both the Class B Non-Voting shares and the Class A Voting common shares of the company. This dividend will be payable on January 15, 2026 to shareholders of record on January 7, 2026. Annonce • Sep 24
AGF Management Limited Declares Dividend for Third Quarter 2025, Payable on October 16, 2025 On September 23, 2025, the Board of Directors of AGF Management Limited declared a dividend of 12.5 cents per share on both the Class B Non-Voting shares and the Class A Voting common shares of the company. This dividend will be payable on October 16, 2025 to shareholders of record on October 9, 2025. Annonce • Sep 06
AGF Management Limited to Report Q3, 2025 Results on Sep 24, 2025 AGF Management Limited announced that they will report Q3, 2025 results at 7:00 AM, US Eastern Standard Time on Sep 24, 2025 Annonce • Jul 10
Agf Management Limited Appoints Chris Jackson as President & Chief Operating Officer, Effective July 10, 2025 AGF Management Limited announced that Chris Jackson has been appointed President & Chief Operating Officer, AGF, effective July 10, 2025. In this expanded role, he will report to Judy overseeing the execution of strategic plans in support of business priorities and provide counsel on business planning and direction for corporate initiatives to AGF’s leadership team. Chris brings more than 35 years of experience leading organizations in the financial services and technology industries, including 14 years at AGF in progressively senior roles. He has been a member of AGF’s Executive Management Team (EMT) since 2018 assisting in the development and execution of the firm’s long-term strategy. Additionally, David Stonehouse has been appointed interim Chief Investment Officer, AGF Investments. A search process for a new CIO has been initiated. During this interim period, David, with the support of the Office of the CIO, will lead the firm’s investment management team, ensuring stability of culture and focus on delivering strong, consistent results for clients. He brings nearly three decades of portfolio management experience to this role and has served as Head of North American and Specialty portfolios for AGF Investments since 2018. Ash Lawrence, Head of AGF Capital Partners, AGF’s diversified alternatives business and member of AGF’s Executive Management Team, will serve as EMT sponsor for AGF Investments’ OCIO, a role previously held by Kevin McCreadie. In this role, Ash will provide counsel and direction to the OCIO on corporate strategic planning and decision-making. Annonce • Jun 25
AGF Management Limited Declares Second Quarter 2025 Dividend, Payable on July 17, 2025 On June 24, 2025, the Board of Directors of AGF Management Limited declared a dividend of 12.5 cents per share on both the Class B Non-Voting shares and the Class A Voting common shares of the company. This dividend will be payable on July 17, 2025 to shareholders of record on July 3, 2025. Annonce • Jun 05
AGF Management Limited to Report Q2, 2025 Results on Jun 25, 2025 AGF Management Limited announced that they will report Q2, 2025 results at 7:00 AM, US Eastern Standard Time on Jun 25, 2025 Annonce • Apr 08
AGF Management Limited Declares First Quarter 2025 Dividend, Payable April 23, 2025 AGF Management Limited Board of Directors declared a First Quarter 2025 dividend of 12.5 cents per share on both the Class B Non-Voting shares and the Class A Voting common shares of the company. This dividend will be payable on April 23, 2025 to shareholders of record on April 14, 2025. Annonce • Mar 06
AGF Management Limited to Report Q1, 2025 Results on Apr 08, 2025 AGF Management Limited announced that they will report Q1, 2025 results at 7:00 AM, US Eastern Standard Time on Apr 08, 2025 Annonce • Jan 07
AGF Management Limited to Report Fiscal Year 2024 Results on Jan 22, 2025 AGF Management Limited announced that they will report fiscal year 2024 results at 8:00 AM, Eastern Standard Time on Jan 22, 2025 Annonce • Dec 13
AGF Management Limited Declares Fourth Quarter 2024 Dividend, Payable January 16, 2025 AGF Management Limited declared a dividend of 11.5 cents per share on both the Class B Non-Voting shares and the Class A Voting common shares of the company. This dividend will be payable on January 16, 2025 to shareholders of record on January 8, 2025. Recent Insider Transactions • Oct 15
Key Executive recently bought €70k worth of stock On the 9th of October, Kevin McCreadie bought around 10k shares on-market at roughly €6.98 per share. This transaction amounted to 1.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Kevin's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €6.60, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Capital Markets industry in Germany. Total returns to shareholders of 49% over the past three years. Declared Dividend • Sep 29
Third quarter dividend of CA$0.12 announced Shareholders will receive a dividend of CA$0.12. Ex-date: 10th October 2024 Payment date: 17th October 2024 Dividend yield will be 6.1%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 23% over the next 3 years. However, it would need to fall by 62% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Sep 25
Third quarter 2024 earnings released: EPS: CA$0.31 (vs CA$0.35 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.31 (down from CA$0.35 in 3Q 2023). Revenue: CA$137.7m (up 17% from 3Q 2023). Net income: CA$20.3m (down 12% from 3Q 2023). Profit margin: 15% (down from 20% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 1.2% growth forecast for the Capital Markets industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Annonce • Sep 25
AGF Management Limited Declares Third Quarter 2024 Dividend, Payable on October 17, 2024 On September 24, 2024, the Board of Directors of AGF Management Limited declared a dividend of 11.5 cents per share on both the Class B Non-Voting shares and the Class A Voting common shares of the company for the third quarter 2024. This dividend will be payable on October 17, 2024 to shareholders of record on October 10, 2024. Annonce • Sep 06
AGF Management Limited to Report Q3, 2024 Results on Sep 25, 2024 AGF Management Limited announced that they will report Q3, 2024 results at 8:00 AM, US Eastern Standard Time on Sep 25, 2024 Recent Insider Transactions • Aug 07
Director recently bought €66k worth of stock On the 2nd of August, Laura Dottori-Attanasio bought around 13k shares on-market at roughly €5.28 per share. This transaction amounted to 98% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €846k more in shares than they have sold in the last 12 months. Declared Dividend • Jul 01
Second quarter dividend of CA$0.12 announced Shareholders will receive a dividend of CA$0.12. Ex-date: 4th July 2024 Payment date: 18th July 2024 Dividend yield will be 6.3%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 22% over the next 3 years. However, it would need to fall by 63% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Jun 27
Second quarter 2024 earnings released: EPS: CA$0.28 (vs CA$0.46 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.28 (down from CA$0.46 in 2Q 2023). Revenue: CA$132.3m (up 1.9% from 2Q 2023). Net income: CA$18.1m (down 40% from 2Q 2023). Profit margin: 14% (down from 23% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 2.0% growth forecast for the Capital Markets industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 3% per year. Annonce • Jun 26
AGF Management Limited Declares Second Quarter 2024 Dividend, Payable on July 18, 2024 On June 25, 2024, the Board of Directors of AGF Management Limited declared a dividend of 11.5 cents per share on both the Class B Non-Voting shares and the Class A Voting common shares of the company for the second quarter 2024. This dividend will be payable on July 18, 2024 to shareholders of record on July 4, 2024. Annonce • Jun 08
AGF Management Limited to Report Q2, 2024 Results on Jun 26, 2024 AGF Management Limited announced that they will report Q2, 2024 results at 8:00 AM, US Eastern Standard Time on Jun 26, 2024 Declared Dividend • Apr 08
First quarter dividend of CA$0.12 announced Shareholders will receive a dividend of CA$0.12. Ex-date: 10th April 2024 Payment date: 24th April 2024 Dividend yield will be 6.0%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 6.8% over the next 3 years. However, it would need to fall by 68% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Apr 04
First quarter 2024 earnings released: EPS: CA$0.47 (vs CA$0.27 in 1Q 2023) First quarter 2024 results: EPS: CA$0.47 (up from CA$0.27 in 1Q 2023). Revenue: CA$136.7m (up 20% from 1Q 2023). Net income: CA$30.5m (up 74% from 1Q 2023). Profit margin: 22% (up from 15% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 2.2% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Germany are expected to grow by 3.2%. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Annonce • Apr 04
AGF Management Limited Declares Dividend for First Quarter 2024, Payable on April 24, 2024 The Board of Directors of AGF Management Limited declared a dividend of 11.5 cents per share on both the Class B Non-Voting shares and the Class A Voting common shares of the company. This dividend will be payable on April 24, 2024 to shareholders of record on April 11, 2024. Annonce • Mar 07
AGF Management Limited Announces Appointment of Laura Dottori-Attanasio to the Board of Directors, Effective April 3, 2024 AGF Management Limited announced the appointment of Laura Dottori-Attanasio to the AGF Board of Directors effective April 3, 2024. Ms. Dottori-Attanasio is a highly accomplished leader in the business community, currently serving as the President and CEO of Element Fleet Management (Element), the largest publicly traded pure-play automotive fleet manager in the world. Before joining Element, Ms. Dottori-Attanasio led the Personal and Business Banking division at one of Canada's largest financial institutions. Prior to this role, she oversaw the institution's Risk Management activities as the Chief Risk Officer and the Global Corporate Banking and Trading Room Credit in the Capital Markets division. In addition to her professional achievements, Ms. Dottori-Attanasio is deeply committed to making a positive impact in the community, a commitment that aligns with AGF's long-standing history of community involvement. She actively contributes to various organizations, currently serving as a board member for the Canadian Foundation for Physically Disabled Persons "A Seat at the Table," and co-chairing the Fundraising Committee for the Children's Aid Foundation of Canada. Ms. Dottori-Attanasio’s efforts and dedication have been recognized by the Association of Fundraising Professionals, where she was honored with the Outstanding Volunteer Award. Additionally, she received the prestigious King Clancy Award from the Canadian Foundation for Physically Disabled Persons. Ms. Dottori-Attanasio’s achievements have earned her a place in the WXN Top 100 ‘Most Powerful Women in Canada’ Hall of Fame. Recent Insider Transactions • Feb 01
President recently bought €713k worth of stock On the 29th of January, Judith Goldring bought around 179k shares on-market at roughly €3.99 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Judith's only on-market trade for the last 12 months. Reported Earnings • Jan 24
Full year 2023 earnings released Full year 2023 results: Revenue: CA$471.8m (flat on FY 2022). Net income: CA$87.7m (up 32% from FY 2022). Profit margin: 19% (up from 14% in FY 2022). Revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Germany are expected to grow by 2.4%. Annonce • Jan 05
AGF Management Limited to Report Fiscal Year 2023 Results on Jan 24, 2024 AGF Management Limited announced that they will report fiscal year 2023 results at 8:00 AM, US Eastern Standard Time on Jan 24, 2024 Upcoming Dividend • Dec 29
Upcoming dividend of CA$0.11 per share at 5.7% yield Eligible shareholders must have bought the stock before 05 January 2024. Payment date: 16 January 2024. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 5.7%. Within top quartile of German dividend payers (5.1%). Higher than average of industry peers (2.7%). Annonce • Dec 15
AGF Management Limited Declares Dividend on Class B and A Voting Shares for the Fourth Quarter of 2023, Payable on January 16, 2024 On December 14, 2023, the Board of Directors of AGF Management Limited declared a dividend of $0.11 per share on both the Class B Non-Voting shares and the Class A Voting common shares of the company. This dividend will be payable on January 16, 2024 to shareholders of record on January 8, 2024. Annonce • Sep 28
AGF Management Limited Declares Dividend on Class B and A Voting Shares for the Third Quarter of 2023, Payable on October 19, 2023 On September 26, 2023, the Board of Directors of AGF Management Limited declared a dividend of $0.11 per share on both the Class B Non-Voting shares and the Class A Voting common shares of the company for third quarter of 2023. This dividend will be payable on October 19, 2023 to shareholders of record on October 11, 2023. Reported Earnings • Sep 28
Third quarter 2023 earnings released: EPS: CA$0.35 (vs CA$0.33 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.35 (up from CA$0.33 in 3Q 2022). Revenue: CA$117.7m (up 4.6% from 3Q 2022). Net income: CA$23.0m (up 4.0% from 3Q 2022). Profit margin: 20% (in line with 3Q 2022). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Capital Markets industry in Germany. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Annonce • Sep 07
AGF Management Limited to Report Q3, 2023 Results on Sep 27, 2023 AGF Management Limited announced that they will report Q3, 2023 results at 8:00 AM, US Eastern Standard Time on Sep 27, 2023 Annonce • Aug 18
AGF Management Limited to Report Q1, 2024 Results on Apr 04, 2024 AGF Management Limited announced that they will report Q1, 2024 results on Apr 04, 2024 Upcoming Dividend • Jun 29
Upcoming dividend of CA$0.11 per share at 5.7% yield Eligible shareholders must have bought the stock before 06 July 2023. Payment date: 19 July 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 5.7%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.0%). Annonce • Jun 22
AGF Management Limited Declares Dividend on Class B Non-Voting Shares and the Class A Voting Common Shares, Payable on July 19, 2023 The Board of Directors of AGF Management Limited declared a dividend of $0.11 per share on both the Class B Non-Voting shares and the Class A Voting common shares of the company. This dividend will be payable on July 19, 2023 to shareholders of record on July 7, 2023. New Risk • Jun 22
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • Jun 22
Second quarter 2023 earnings released: EPS: CA$0.46 (vs CA$0.15 in 2Q 2022) Second quarter 2023 results: EPS: CA$0.46 (up from CA$0.15 in 2Q 2022). Revenue: CA$129.8m (up 11% from 2Q 2022). Net income: CA$30.3m (up 200% from 2Q 2022). Profit margin: 23% (up from 8.6% in 2Q 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Board Change • Jun 07
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 5 highly experienced directors. Director Cybele Negris was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Jun 06
AGF Management Limited to Report Q2, 2023 Results on Jun 21, 2023 AGF Management Limited announced that they will report Q2, 2023 results at 8:00 AM, US Eastern Standard Time on Jun 21, 2023 Annonce • May 25
AGF Management Limited Welcomes Ken Tsang as Chief Financial Officer, Effective June 1, 2023 AGF Management Limited announce the appointment of industry veteran Ken Tsang to the position of Chief Financial Officer. Ken will join the organization on June 1, 2023 reporting to Kevin McCreadie, Chief Executive Officer and Chief Investment Officer, AGF. Ken is a respected and seasoned leader with nearly 30 years of experience as a strategic finance and corporate development leader in Financial Services.He was most recently the Chief Financial Officer, Head of Strategy & Business Development at Capital One Canada. Prior to this, Ken was a Vice President of Strategy at BMO Financial Group and was previously part of the Financial Institutions practice of McKinsey & Company and the Investment Banking Division of Credit Suisse First Boston. Ken brings expertise in wealth management, retail banking and capital markets, including private markets experience. Ken also has global experience working in established and start-up environments in Canada, the U.S. and Asia. Jenny Quinn will remain at AGF and will be returning to her role as Chief Accounting Officer. She will work closely with Ken on the CFO transition. Upcoming Dividend • Apr 03
Upcoming dividend of CA$0.11 per share at 5.5% yield Eligible shareholders must have bought the stock before 10 April 2023. Payment date: 21 April 2023. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 5.5%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.2%). Recent Insider Transactions • Mar 29
Key Executive recently bought €53k worth of stock On the 24th of March, Kevin McCreadie bought around 10k shares on-market at roughly €5.31 per share. This transaction amounted to 1.3% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €69k. Despite this recent buy, Kevin has been a net seller over the last 12 months, reducing personal holdings by €228k. Board Change • Mar 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 4 highly experienced directors. Director Cybele Negris was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 24
First quarter 2023 earnings released: EPS: CA$0.27 (vs CA$0.18 in 1Q 2022) First quarter 2023 results: EPS: CA$0.27 (up from CA$0.18 in 1Q 2022). Revenue: CA$113.9m (down 8.8% from 1Q 2022). Net income: CA$17.6m (up 37% from 1Q 2022). Profit margin: 15% (up from 10% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. Recent Insider Transactions • Feb 17
Key Executive recently bought €69k worth of stock On the 9th of February, Kevin McCreadie bought around 11k shares on-market at roughly €6.27 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Kevin has been a net seller over the last 12 months, reducing personal holdings by €281k. Reported Earnings • Jan 26
Full year 2022 earnings released: EPS: CA$0.97 (vs CA$0.56 in FY 2021) Full year 2022 results: EPS: CA$0.97 (up from CA$0.56 in FY 2021). Revenue: CA$469.0m (up 1.6% from FY 2021). Net income: CA$66.6m (up 70% from FY 2021). Profit margin: 14% (up from 8.5% in FY 2021). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Capital Markets industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Annonce • Jan 06
AGF Management Limited to Report Fiscal Year 2022 Results on Jan 25, 2023 AGF Management Limited announced that they will report fiscal year 2022 results at 8:00 AM, US Eastern Standard Time on Jan 25, 2023 Upcoming Dividend • Dec 30
Upcoming dividend of CA$0.10 per share Eligible shareholders must have bought the stock before 06 January 2023. Payment date: 17 January 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 5.7%. Within top quartile of German dividend payers (5.1%). Higher than average of industry peers (2.9%). Recent Insider Transactions • Dec 04
Key Executive recently sold €350k worth of stock On the 30th of November, Kevin McCreadie sold around 75k shares on-market at roughly €4.68 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Kevin's only on-market trade for the last 12 months. Upcoming Dividend • Oct 04
Upcoming dividend of CA$0.10 per share Eligible shareholders must have bought the stock before 11 October 2022. Payment date: 20 October 2022. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 6.5%. Within top quartile of German dividend payers (5.7%). Higher than average of industry peers (3.2%). Reported Earnings • Sep 29
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: CA$112.5m (down 8.6% from 3Q 2021). Net income: CA$22.1m (up 49% from 3Q 2021). Profit margin: 20% (up from 12% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 5.0% growth forecast for the Capital Markets industry in Germany. Upcoming Dividend • Jun 30
Upcoming dividend of CA$0.10 per share Eligible shareholders must have bought the stock before 07 July 2022. Payment date: 20 July 2022. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 6.3%. Within top quartile of German dividend payers (4.5%). Higher than average of industry peers (3.1%). Reported Earnings • Jun 24
Second quarter 2022 earnings released: EPS: CA$0.15 (vs CA$0.072 in 2Q 2021) Second quarter 2022 results: EPS: CA$0.15 (up from CA$0.072 in 2Q 2021). Revenue: CA$117.5m (up 7.3% from 2Q 2021). Net income: CA$10.1m (up 101% from 2Q 2021). Profit margin: 8.6% (up from 4.6% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 4.3% compared to a 8.4% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 5 highly experienced directors. Independent Director Ian L. Clarke was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 31
First quarter 2022 earnings released First quarter 2022 results: Revenue: CA$124.9m (up 17% from 1Q 2021). Net income: CA$12.9m (up 129% from 1Q 2021). Profit margin: 10% (up from 5.2% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 2.3% compared to a 7.4% decline forecast for the industry in Germany. Reported Earnings • Jan 28
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: CA$461.7m (up 5.0% from FY 2020). Net income: CA$39.3m (down 77% from FY 2020). Profit margin: 8.5% (down from 40% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 3.7% compared to a 8.7% decline forecast for the funds industry in Germany. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 31
Upcoming dividend of CA$0.09 per share Eligible shareholders must have bought the stock before 07 January 2022. Payment date: 18 January 2022. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of German dividend payers (3.3%). Higher than average of industry peers (2.7%). Board Change • Dec 06
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 5 highly experienced directors. CEO, Chief Investment Officer & Director Kevin McCreadie was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Oct 01
Third quarter 2021 earnings released: EPS CA$0.21 (vs CA$0.61 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CA$123.1m (down 11% from 3Q 2020). Net income: CA$14.9m (down 69% from 3Q 2020). Profit margin: 12% (down from 34% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 04
Second quarter 2021 earnings released: EPS CA$0.072 (vs CA$0.068 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CA$108.3m (up 22% from 2Q 2020). Net income: CA$5.02m (down 5.7% from 2Q 2020). Profit margin: 4.6% (down from 6.0% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 01
First quarter 2021 earnings released The company reported a poor first quarter result with weaker earnings and profit margins, although revenues were flat. First quarter 2021 results: Revenue: CA$107.2m (flat on 1Q 2020). Net income: CA$5.61m (down 48% from 1Q 2020). Profit margin: 5.2% (down from 10% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 13
New 90-day high: €4.78 The company is up 35% from its price of €3.54 on 11 December 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.66 per share. Annonce • Mar 05
AGF Management Limited to Report Q1, 2021 Results on Mar 31, 2021 AGF Management Limited announced that they will report Q1, 2021 results at 8:00 AM, US Eastern Standard Time on Mar 31, 2021 Is New 90 Day High Low • Feb 04
New 90-day high: €4.52 The company is up 23% from its price of €3.66 on 06 November 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.27 per share. Reported Earnings • Jan 30
Full year 2020 earnings released: EPS CA$2.25 (vs CA$0.61 in FY 2019) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: CA$439.5m (flat on FY 2019). Net income: CA$173.9m (up 263% from FY 2019). Profit margin: 40% (up from 11% in FY 2019). Funds under management (FUM) Beginning of period: CA$30.1b End of period: CA$30.0b Net inflows/outflows: CA$371.0m outflow Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Jan 28
Full year 2020 earnings released The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CA$543.9m (up 25% from FY 2019). Net income: CA$173.9m (up 263% from FY 2019). Profit margin: 32% (up from 11% in FY 2019). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 7% per year, which means it is performing significantly worse than earnings. Analyst Estimate Surprise Post Earnings • Jan 28
Revenue beats expectations Revenue exceeded analyst estimates by 27%. Over the next year, revenue is expected to shrink by 22% compared to a 11% growth forecast for the Capital Markets industry in Germany. Is New 90 Day High Low • Jan 13
New 90-day high: €3.90 The company is up 2.0% from its price of €3.82 on 15 October 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €7.20 per share. Annonce • Dec 13
AGF Management Limited to Report Q4, 2020 Results on Jan 27, 2021 AGF Management Limited announced that they will report Q4, 2020 results at 8:00 AM, US Eastern Standard Time on Jan 27, 2021 Is New 90 Day High Low • Oct 14
New 90-day high: €3.92 The company is up 23% from its price of €3.18 on 16 July 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €6.15 per share. Is New 90 Day High Low • Sep 25
New 90-day high: €3.76 The company is up 18% from its price of €3.18 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €6.92 per share. Reported Earnings • Sep 25
Third quarter earnings released Over the last 12 months the company has reported total profits of CA$85.6m, up 111% from the prior year. Total revenue was CA$449.1m over the last 12 months, up 4.3% from the prior year. Annonce • Sep 24
AGF Management Limited and the SAF Group Extend Partnership AGF Management Limited announced it is accelerating the firm’s commitment to its private alternatives business through an expanded partnership with the SAF Group (SAF), securing the opportunity to increase its ownership over time. AGF has entered into a definitive option agreement with SAF which grants AGF the right to acquire management fee earnings of select SAF funds, and any new private credit funds, exercisable at any time over the next 12 months. While the extension of AGF and SAF’s partnership is initially focused on bringing new investment products to market, including opportunistic funds in late 2020, the option agreement also creates a path forward to a joint private credit firm in the future that is well-positioned to capitalize on the expected growth in private debt investments. Later this year, AGF and SAF expect to initially bring to market a direct lending private credit strategy for institutional and high-net worth investors, with a focus on originating, structuring and lending to middle and lower middle market companies, primarily in Canada and the United States. The General Partner expects to make a capital commitment of $15M to the fund. Subsequently, AGF and SAF will bring to market offerings with varying liquidity and return profiles designed to meet the needs of a wider audience and different segments of the investor market. Annonce • Sep 22
AGF Management Limited (AGF) and WaveFront Global Asset Management Corp. Partner to Deliver Investment Management Capabilities to Rapidly Growing China and South Korea Markets AGF Management Limited (AGF) and WaveFront Global Asset Management Corp. (WaveFront) announced the launch of AGFWave Asset Management Inc. (AGFWave), a new joint venture for providing asset management services and products in China and South Korea. AGFWave combines AGF’s investment expertise and global brand strength with WaveFront’s existing distribution capabilities in China and South Korea, including partnerships with industry leaders in both regions. Initially, members of AGF’s quantitative investment team AGFiQ, will work together with members of WaveFront’s team as AGFWave’s Investment Committee. AGFiQ’s existing investment management resources and capabilities are a strong fit for WaveFront, aligning to a similar quantitative investment philosophy and boasting demonstrated strong track records in key areas of focus for these markets. In addition to taking over investment management duties for existing market differentiated investment products on behalf of partners and clients, AGFWave will also be responsible for new product development in these markets, working closely with both Chinese and South Korean partners on exploring future opportunities to bring AGF’s other quantitative and complementary fundamental investment management capabilities to these rapidly growing markets. AGFWave, with its partners in China, is also positioned to offer China A-share products to Institutional investors globally. Annonce • Sep 05
AGF Management Limited to Report Q3, 2020 Results on Sep 23, 2020 AGF Management Limited announced that they will report Q3, 2020 results at 8:00 AM, US Eastern Standard Time on Sep 23, 2020 
