Guardian Capital Group Limited
TSX : GCG
TSX : GCG.A

Guardian Capital Group Limited

February 26, 2007 17:21 ET

Guardian Capital Group Limited Announces 2006 Operating Results

TORONTO, ONTARIO--(CCNMatthews - Feb. 26, 2007) - Guardian Capital Group Limted (TSX:GCG)(TSX:GCG.A) -



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For the period ended December 31 Three Months Twelve Months
($ in thousands, except per 2006 2005 2006 2005
share amounts)
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Net earnings $ 10,073 $ 4,028 $ 23,376 $ 14,457

Cash flow from operations,
before change in
non-cash working capital 4,956 3,818 17,260 14,833

Per Share
Basic earnings $ 0.25 $ 0.10 $ 0.59 $ 0.37
Diluted earnings 0.25 0.10 0.58 0.36

Basic cash flow from
operations, before change in
non-cash working capital 0.13 0.10 0.44 0.38
Diluted cash flow from
operations, before change in
non-cash working capital 0.12 0.10 0.43 0.37


Assets under management were $17.3 billion as at December 31, 2006 compared to $17.1 billion as at September 30, 2006 and $18.4 billion as at December 31, 2005. Assets under administration were $5.3 billion as at December 31, 2006, compared to $5.0 billion as at September 30, 2006 and $4.6 billion as at December 31, 2005.

Net earnings for the year 2006 were $23.4 million or $0.58 per share, diluted, compared to $14.5 million or $0.36 per share, diluted, for 2005. Net earnings for the Fourth Quarter of 2006 were increased by $3.3 million, or $0.08 per share, diluted, as a result of the decrease in future Federal income taxes enacted during the year.

Cash flow from operations before change in non-cash working capital for the year was $17.3 million, compared to $14.8 million for 2005.

The fair value of corporate holdings of securities as at December 31, 2006 was $443.1 million, or $11.06 per share, diluted.

The Board of Directors has declared an "Eligible" dividend of $0.135 per share, payable on March 15, 2007 to shareholders of record on March 9, 2007.

Guardian Capital Group Limited is a diversified financial services company founded in 1962. Guardian provides institutional and high net worth investment management services to clients; provides financial services to international investors; and provides services to financial advisors in its national mutual fund dealer, securities dealer, and insurance distribution network. Its Common and Class A shares are listed on The Toronto Stock Exchange.

Contact Information

  • Guardian Capital Group Limited
    Vern Christensen
    (416) 947-4093
    or
    Guardian Capital Group Limited
    Sam K. Greiss
    (416) 947-3743