* Q1 adj EPS C$0.27 vs est C$0.27
* Revenue nearly quadruples to C$690.0 mln
* Avg retail assets under management up 29 pct
* Increases monthly dividend by 8.3 pct
May 11 Fund manager CI Financial Corp (CIX.TO)
posted a 23 percent surge in quarterly earnings that were in
line with expectations, buoyed by higher assets under
management, and raised its monthly dividend.
For the first quarter, net income was C$74.9 million
($73.22 million), or 26 Canadian cents per share, compared with
C$61.1 million, or 21 Canadian cents per share, a year ago.
Adjusted earnings per share was 27 Canadian cents apiece.
Net sales for the quarter nearly quadrupled to C$690.0
Analysts on average were expecting the company to earn 27
Canadian cents per share on revenue of C$340.3 million,
according to Thomson Reuters I/B/E/S.
Average retail assets under management for the quarter rose
29 percent to C$62.85 billion.
The Toronto-based company raised its monthly dividend by
half a Canadian cent to 6.5 Canadian cents per share.
Shares of the company were virtually flat at C$19.76
Tuesday afternoon on the Toronto Stock Exchange. ($1=1.023
(Reporting by Abhiram Nandakumar in Bangalore; Editing by