Posted AT 6:13 AM EST on 21/01/08
Seamark fights to win back institutional appeal
A turnaround at money manager Seamark Asset Management Ltd. has stalled, leading more money to flow out and analysts to speculate the firm will cut its dividend.Seamark, one of Atlantic Canada's best-known investment firms, last reduced its quarterly dividend to 7 cents a share from 20 cents in 2006 after losing a key mutual fund company as a client.
"The writing is on the wall," said Michael Mills, an analyst a Halifax-based Beacon Securities Ltd.
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