UPDATE 1-IGM Financial profit jumps 33 pct

* Q1 earnings per share C$0.68

* Total assets under management C$123.4 billion

* Mutual fund sales for the quarter were C$1.9 billion

TORONTO, May 7 (BestGrowthStock) – IGM Financial Inc (IGM.TO: ),
Canada’s No. 2 mutual fund company, said on Friday its
first-quarter profit (Read more your timing to make a profit.) jumped 33 percent amid soaring mutual fund
sales.

Winnipeg, Manitoba-based IGM said net income was C$178.7
million, or 68 Canadian cents a share, compared with net income
of C$133.5 million or 51 Canadian cents a share a year
earlier.

Mutual fund sales totaled C$1.9 billion compared with C$1.4
billion, with net sales of C$560 million, up from C$309 million
a year ago.

Total assets under management as of March 31 were C$123.4
billion, up 25 percent.

IGM also said its board declared a dividend of C$0.5125 per
common share and a C$0.36875 for each 5.90 percent,
non-cumulative first preferred share.

The common share dividend is payable on July 30 and the
preferred share dividend is payable on Aug. 3.

Stock Market Report

($1=$1.04 Canadian)
(Reporting by Pav Jordan; editing by Rob Wilson)

UPDATE 1-IGM Financial profit jumps 33 pct