Source: The Canadian Press

Gluskin Sheff and Associates Inc. (TSX:GS) said Thursday it would pay a special dividend and increase its regular quarterly payment to shareholders.

The company said it would make a special payment of 80 cents per to shareholders of record on Sept. 29, 2010.

Gluskin Sheff also said it would increase its regular quarterly dividend to 13.75 cents, up from its current dividend of 12.5 cents per quarter.

“We are pleased to declare our fifth special dividend and announce the fourth increase in our regular dividend since becoming a public company,” president and chief executive Freedman said in a statement.

The news came as the money manger reported a fourth-quarter profit of $5.8 million or 20 cents per diluted share for the quarter ended June 30 compared with a profit of $5.8 million or 20 cents per diluted share a year earlier.

Revenue increased to $21.8 million, up from $18.8 million.

For its full financial year, the company said it earned $38.4 million or $1.30 per diluted share on $123.3 million in revenue. That compared with a profit of $21.2 million or 73 cents per diluted share on $69 million in revenue the previous year.

Assets under management totalled $5.53 billion at June 30 compared with $4.46 billion a year earlier.

Shares in the company, which reported its results after the close of markets, closed up three cents at $16.50 on the Toronto Stock Exchange on Thursday.