Bullboard - Stock Discussion Forum IGM Financial Inc T.IGM

Alternate Symbol(s): IGIFF

IGM Financial Inc. is a Canada-based diversified wealth and asset management company. The Company provides a range of financial planning and investment management services. Its activities are carried out principally through IG Wealth Management and Mackenzie Investments. The Company’s segments include Wealth Management, Asset Management and Corporate and Other. The Wealth Management segment... see more

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IGM Financial Inc > IGM FINANCIAL REPORTS RECORD HIGH EARNINGS

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Post by Betteryear2 on Feb 10, 2022 6:26pm

IGM FINANCIAL REPORTS RECORD HIGH EARNINGS

Readers are referred to the disclaimer regarding Forward-Looking Statements,
Non-IFRS Financial Measures and Additional IFRS Measures at the end of this Release.

WINNIPEG, MB, Feb. 10, 2022 /CNW/ - IGM Financial Inc. (IGM or the Company) (TSX: IGM) today announced earnings results for the fourth quarter of 2021 and for the year ended December 31, 2021.

IGM HIGHLIGHTS

Record high fourth quarter net earnings of $268.5 million or $1.11 per share – up 17% from the fourth quarter of 2020. Adjusted net earnings, excluding other items,1 of $260.8 million or $1.08 per share were up 28% from $204.3 million in 2020.
Record high annual net earnings of $978.9 million or $4.08 per share – up 28% from 2020.
Record high assets under management and advisement of $277.1 billion, up 4.5% in the quarter and 15.5% from December 31, 2020.
Record high annual net inflows of $8.7 billion, compared to net inflows of $7.1 billion in 2020. Fourth quarter net inflows of $1.2 billion, compared to net inflows of $2.2 billion in 2020.
Intention to purchase up to 6 million shares under a normal course issuer bid for up to one year, following TSX approval.

"We finished the year with record high annual earnings per share of $4.08 and record fourth quarter earnings per share of $1.11," said James O'Sullivan, President and Chief Executive Officer of IGM Financial Inc. "These very strong results were driven by record high net sales, positive investment returns for our clients, and increased earnings contributions from our strategic investments."

Net earnings available to common shareholders for the fourth quarter of 2021 were $268.5 million or $1.11 per share compared to $229.1 million or $0.96 per share in 2020. Adjusted net earnings available to common shareholders, excluding other items,1 for the fourth quarter of 2021 were $260.8 million or $1.08 per share compared to $204.3 million or $0.86 per share.

Annual net earnings available to common shareholders for 2021 were $978.9 million or $4.08 per share compared to $764.4 million or $3.21 per share in 2020. Adjusted net earnings available to common shareholders, excluding other items,1 were $971.2 million or $4.05 per share compared to $762.9 million or $3.20 per share.