Saxon Financial Inc. reported record financial results for the fourth quarter and year ended Dec. 31, 2006 on Wednesday with a 24% growth in revenue and a 34% increase in net income in the fourth quarter over Q4 2005.

Revenue for the year ended Dec. 31 increased 28% compared to the same period in 2005, totaling $48.6 million over $38.1 million in the previous year.

Saxon’s assets under management grew 14% during the year, reaching a record $12.5 billion from $10.9 billion in 2005.

“Saxon’s strong financial results conclude a year in which we launched new retail products and enjoyed significant wins in the institutional business,” says Allan Smith, president and CEO. “We are proud of our financial performance. Our dividend increase, the second in the past year, reflects our confidence that Saxon can deliver long-term shareholder value.”

Saxon also announced on Wednesday that its board of directors has increased its quarterly dividend. The board has approved a quarterly dividend of $0.21 per common share, an increase of 17%, payable on March 28 to shareholders of record on March 16.