Increased quarterly dividend 17.6% to $0.10 per common share
TORONTO, June 3, 2026 /CNW/ - Canaccord Genuity Group Inc. (Canaccord Genuity Group, the Company) (TSX:CF) today announced its financial results for the fourth quarter and fiscal year ended March 31, 2026.
"We delivered record revenue in fiscal 2026 and significantly improved profitability, reflecting stronger operating leverage and disciplined execution across the platform," said Dan Daviau, Chairman & CEO of Canaccord Genuity Group Inc. "Capital markets growth was led by higher investment banking and advisory activity, while wealth management continued to scale, supported by market appreciation, targeted investment and positive inflows. Our improved earnings profile and continued focus on disciplined capital allocation supported our decision to increase the dividend, while preserving the flexibility to invest in the areas of the business where we see the strongest opportunities to create long-term shareholder value."
Fourth quarter and fiscal 2026 highlights (adjusted):(All dollar amounts are stated in thousands of Canadian dollars and on an adjusted basis excluding significant items(1) unless otherwise indicated)
Fourth quarter revenue of $612.7 million, an increase of 33.2% over the same period in the prior fiscal year and the third highest quarterly revenue on record
Fiscal 2026 revenue of $2.2 billion increased by 24.9% year over year
Global wealth management operations earned record quarterly revenue of $306.7 million and record revenue of $1.1 billion for fiscal 2026, year-over-year improvements of 28.4% and 24.2%. Fourth quarter growth in the Australian wealth management operations reflects contributions from the acquisition of Wilsons Advisory
Global capital markets revenue for the fourth quarter of $291.6 million improved 37.3% year-over-year, primarily attributable to higher investment banking, advisory fees and commissions and fees revenue. Fiscal 2026 revenue in this division improved by 25.8% year-over-year to $1.0 billion
Total client assets in the global wealth management division increased by 22.8% year-over-year to $147.8 billion. Growth reflects year-over-year increases of 30.4% in Canada, 7.0% in the UK & Crown Dependencies, and 113.2% in Australia
Fourth quarter net income before taxes of $89.1 million, an increase of 176.3% or $56.8 million year-over-year
Fiscal 2026 net income before taxes of $262.8 million, an increase of 76.2% or $113.7 million compared to fiscal 2025
Canaccord Genuity Group's global wealth management division contributed net income before taxes of $45.2 million in the fourth quarter and $195.2 million in fiscal 2026, year-over-year increases of 9.6% and 31.0%
Canaccord Genuity Group's global capital markets division contributed net income before taxes of $58.3 million in the fourth quarter and net income before taxes of $140.9 million in fiscal 2026, representing improvements of $57.3 million and $97.1 million compared to the same periods of last year
Diluted earnings per common share for the fourth fiscal quarter of $0.48, an increase of 300.0% from the same period in the prior year
Diluted earnings per share for fiscal 2026 amounted to $1.26, an increase of 106.6% compared the prior fiscal year
On an IFRS basis, revenue of $615.9 million in Q4/26 increased 33.5% year-over-year. Fourth quarter net income before taxes of $97.7 million improved 434.3% year-over-year. Diluted earnings per common share of $0.61 compared to a diluted loss per common share of $0.01 in Q4/25
On an IFRS basis, fiscal 2026 revenue was $2.2 billion, an increase of 26.5% compared to the prior fiscal year. Net loss before taxes was $8.5 million compared to net income before taxes of $53.5 million for fiscal 2025. Diluted loss per common share of $1.45 compared to a diluted loss per common share of $0.30 in the prior year
Fourth quarter common share dividend of $0.10 per share increased 17.6 %
______________________
1 See Non-IFRS Measures on page 6
Update on media speculation regarding UK wealth management operations
On October 17, 2025, at the request of its regulators, the Company issued a statement in response to media coverage speculating about a potential transaction involving its U.K. Wealth Management business ("CGWM UK"), which had contributed to increased volatility in the Company's share price. As previously disclosed, the Company continues to assess a range of strategic options for CGWM UK and has engaged in discussions with various counterparties. These activities are being conducted in the context of, among other things, the rights of the strategic and financial minority partner and that partner's investment horizon, prevailing market and execution conditions, and other relevant industry and business factors.
At this time the Company's activities with respect to CGWM UK have been limited to discussions and the assessment of potential strategic opportunities as described above. The Company expects these discussions and assessments to continue on an ongoing basis and there is no fixed timeline for completion. The valuation, structure, or terms of any transaction that may ultimately occur could differ materially from those speculated upon in media coverage or implied by other market, analyst, or transaction activity.
CGWM UK is a leading wealth management business in the United Kingdom and Crown Dependencies, a meaningful contributor to the Company's results, and one in which the Company continues to see value as part of its global wealth management operations.
The Company does not intend to provide further comment on this matter unless and until it determines that further disclosure is necessary or appropriate.
Three months ended March 31
Year-over-year change
Three months endedDecember 31
Quarter-over-quarter change
Fiscal 2026
Fiscal 2025
Change
Q4/26
Q4/25
Q3/26
Fourth fiscal quarter highlights- adjusted1
Revenue 1
$612,687
$460,016
33.2 %
$616,133
(0.6) %
$2,207,687
$1,767,931
24.9 %
Expenses 1
$523,605
$427,775
22.4 %
$535,589
(2.2) %
$1,944,888
$1,618,813
20.1 %
Diluted earnings per common share 1
$0.48
$0.12
300.0 %
$0.36
33.3 %
$1.26
$0.61
106.6 %
Net Income 1,2
$65,972
$22,481
193.5 %
$56,766
16.2 %
$193,725
$108,981
77.8 %
Net Income attributable to common shareholders 1,3
$52,797
$11,892
n.m.
$38,381
37.6 %
$133,705
$62,120
115.2 %
Fourth fiscal quarter highlights- IFRS
Revenue
$615,857
$461,227
33.5 %
$637,861
(3.4) %
$2,237,956
$1,769,062
26.5 %
Expenses
$518,168
$442,944
17.0 %
$573,644
(9.7) %
$2,246,503
$1,715,549
30.9 %
Diluted loss per common share
$0.61
$(0.01)
n.m.
$0.18
238.9 %
$(1.45)
$(0.30)
n.m.
Net income (loss)2
$86,141
$10,867
n.m.
$38,623
123.0 %
$(78,891)
$25,151
n.m.
Net loss attributable to common shareholders3
$71,261
$(1,156)
n.m.
$18,936
276.3 %
$(144,278)
$(28,907)
n.m.
1. Figures excluding significant items are non-IFRS measures. See Non-IFRS Measures on page 62. Before non-controlling interests and preferred share dividends paid on the Series A and Series C Preferred Shares3. Net income (loss) attributable to common shareholders is calculated as the net income adjusted for non-controlling interests and preferred share dividends
n.m.: not meaningful
Core business performance highlights:
Canaccord Genuity Wealth Management
The Company's combined global wealth management operations earned record quarterly revenue of $306.7 million for the fourth fiscal quarter, a year-over-year increase of 28.4%.This increase was largely attributable to higher quarterly commissions and fees revenue of $248.2 million, which increased by 30.3% year-over-year, reflecting higher contributions from all geographies, in addition to higher investment banking revenue in the Canadian and Australian operations stemming from increased retail participation in new issues. Enhanced performance in the Australian operations was partially attributable to the acquisition of Wilsons Advisory, which was completed on October 1, 2025. Fiscal 2026 revenue in this division amounted to $1.1 billion, an increase of 24.2% compared to the prior fiscal year. Net income before taxes excluding significant items(2) increased by 9.6% year-over-year to $45.2 million during Q4/26 and by 31.0% year-over-year to $195.2 million for fiscal 2026, representing a new fiscal year record.
Wealth management operations in the UK & Crown Dependencies generated fourth quarter revenue of $127.4 million, an increase of 8.3% compared to the same period last year. Commissions and fees revenue improved by 12.1% year-over-year to $105.4 million. Net income before taxes excluding significant items(1) reached $23.1 million in Q4/26, down 16.3% year-over-year. Fiscal 2026 revenue in this business increased by 14.0% year-over-year to $512.8 million, and net income before taxes excluding significant items(1) increased by 9.3% year-over-year to $110.4 million, representing a new record. Normalized EBITDA(1)(2), a commonly used operating metric for this business, was £22.0 million for the three months ended March 31, 2026 and £88.4 million for fiscal 2026, increases of 4.8% and 12.4% compared to the same periods in the prior year.
Canaccord Genuity Wealth Management (North America) generated record quarterly revenue of $130.3 million, a year-over-year increase of 29.8%, mainly driven by higher commissions and fees and investment banking revenue, which increased by 26.9% and 143.1%, respectively, compared to the same period of the prior year. Excluding significant items(1), net income before taxes in this business amounted to $18.8 million in Q4/26, an increase of 47.9% compared to Q4/25. Fiscal 2026 revenue increased by 22.8% to $460.4 million, and net income before taxes excluding significant items(1) of $69.5 million increased by 61.4% year-over-year. Normalized EBITDA(1)(2) in this business was $26.7 million for the three months ended March 31, 2026 and $96.8 million for fiscal 2026, increases of 38.7% and 40.7%, respectively.
Wealth management operations in Australia generated quarterly revenue of $49.0 million reflecting an increase of 134.7% compared to the fourth quarter of last year. Commissions and fees revenue increased by 132.9% year-over-year to $44.5 million and investment banking revenue increased by 182.4% to $4.0 million. Excluding significant items(1), net income before taxes in this business amounted to $3.3 million in Q4/26, up from $1.0 million in Q4/25. Fiscal 2026 revenue increased by 87.1% to $150.1 million, of which $34.1 million was attributable to the acquisition of Wilsons Advisory which was completed on October 1, 2025. This business generated record net income before taxes excluding significant items(1) of $15.3 million in fiscal 2026, an increase of 209.5% year-over-year.
Total client assets in the Company's global wealth management division at the end of the fourth fiscal quarter amounted to a record $147.8 billion, a year-over-year increase of $27.4 billion or 22.8%.
Client assets(1) in the UK & Crown Dependencies reached $74.1 billion (£40.3 billion) as at March 31, 2026, a year-over-year increase of 7.0% (an increase of 8.1% in local currency) primarily attributable to market growth and positive net new asset flows, partially offset by foreign exchange movement. On a sequential basis, client assets(1) decreased by 0.7% from $74.6 billion (£40.4 billion) from the previous quarter primarily attributable to a decrease market values partially offset by net new asset flows.
Client assets(1) in North America reached a new record of $55.7 billion as at March 31, 2026, an increase of 30.4% from $42.7 billion from March 31, 2025 and an increase ...
