Canaccord has announced the company’s financial results of quarter 4 2020. The company has reported the diluted earnings for Q4 2020 were $0.17 per share. The total client’s assets of the company decreased by 7.6 percent year-over-year to $60.7 billion. The Global capital markets businesses earned total revenue of $205.6 million for the Q4 2020, with an improvement of 46.1% as compared to the previous financial year of 2019.
The company has returned $79.6 million of capital to its shareholders during the financial year of 2020. The company has reported the fourth quarter common share dividend of $0.05 per share. Canaccord Genuity wealth Management has generated total revenue of $56.7 million before taxes. The company’s Q4 2020 wealth management system in the UK & Europe has increased by 7.7% as compared to the previous period one year ago.
The Client Asset Management of the company in Europe & UK were $39.9 billion as of March 31, 2020, with a decrease of 17.1% from the previous quarter. The new client assets of the company stood at $21.5 billion as of May 31, 2020.
Chief Executive Officer and President of Canaccord Genuity Group Inc, Dan Daviau said, “Despite the unprecedented market turmoil in our fourth fiscal quarter, we achieved a solid quarterly result, which contributed to a strong financial performance for fiscal 2020. I am so proud of our employees for staying grounded in our core values and supporting our clients at a time when they needed us most.”
“We entered this environment with a robust financial and strategic position to support our business activities, and while the medium and longer-term macroeconomic impact of COVID-19 remains unclear, I am confident that Canaccord Genuity continues to perform well and remains well positioned to deliver long-term value for our clients and our shareholders.” Dan Daviau concluded.