Guardian Capital Group Limited (TSX:GCG) (TSX:GCG.A) Announces 2011 Operating Results

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


For the period ended December 31                          Twelve Months     
($ in thousands, except per share amounts)                 2011         2010
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Net revenues                                       $     74,161 $     65,293
                                                                            
Operating earnings                                       17,133       13,539
                                                                            
Net gains on securities                                     829        3,393
                                                                            
Net earnings available to shareholders                   16,457       16,983
                                                                            
Adjusted cash flow from operations available to                             
 shareholders                                            19,341       18,360
                                                                            
Per Share                                                                   
Net earnings available to shareholders:                                     
  - Basic                                          $       0.51 $       0.52
  - Diluted                                                0.50         0.51
                                                                            
Adjusted cash flow from operations available to                             
 shareholders:                                                              
  - Basic                                                  0.60         0.56
  - Diluted                                                0.59         0.55

Assets under management were $15.9 billion as at December 31, 2011 compared to $16.3 billion as at December 31, 2010. Assets under administration (AUA) were $8.7 billion as at December 31, 2011, compared to $7.8 billion as at December 31, 2010. The increase in AUA resulted substantially from the new life insurance MGA subsidiary.

Net earnings available for shareholders for the year 2011 were $16.5 million or $0.50 per share, diluted, compared to $17.0 million or $0.51 per share, diluted, for 2010.

Adjusted cash flow from operations available to shareholders for the year was $19.3 million or $0.59 per share, diluted, compared to $18.4 million or $0.55 per share, diluted for 2010.

The fair value of corporate holdings of securities as at December 31, 2011 was $364.2 million, or $11.17 per share, diluted, compared to $383.6 million, or $11.57 per share, diluted, as at December 31, 2010.

The Board of Directors has declared an "eligible" dividend of $0.17 per share, payable on March 16, 2012 to shareholders of record on March 9, 2012. This is an increase in the dividend from the $0.16 paid in 2011.

2012 marks the 50th year of operation for Guardian Capital Group Limited, 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.

Contacts: Guardian Capital Group Limited Vern Christensen Senior Vice-President, Finance and Secretary (416) 947-4093 Guardian Capital Group Limited George Mavroudis President and Chief Executive Officer (416) 364-8341

Guardian Capital (TSX:GCG)
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