CI Financial Corp. to Issue Dividend of $0.14 (NYSE:CIXXF)

CI Financial Corp. (NYSE:CIXXF) announced a dividend on Saturday, March 22nd, investing.com reports. Shareholders of record on Tuesday, April 1st will be given a dividend of 0.1432 per share on Tuesday, April 15th. This represents a yield of 2.63%. The ex-dividend date of this dividend is Monday, March 31st.

CI Financial has increased its dividend payment by an average of 64.4% per year over the last three years. CI Financial has a payout ratio of 17.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect CI Financial to earn $3.02 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 18.5%.

CI Financial Stock Down 0.1 %

CIXXF stock opened at $21.81 on Friday. The stock has a market cap of $3.15 billion, a PE ratio of -66.09 and a beta of 1.41. The firm’s 50-day simple moving average is $21.77 and its 200 day simple moving average is $19.28. CI Financial has a fifty-two week low of $10.16 and a fifty-two week high of $22.70. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 4.53.

Analyst Upgrades and Downgrades

Separately, Raymond James cut CI Financial from a “moderate buy” rating to a “strong sell” rating in a report on Thursday, January 23rd.

CI Financial Company Profile

CI Financial Corp. is a publicly owned asset management holding company. Through its subsidiaries, the firm manages separate client focused equity, fixed income, and alternative investments portfolios. It also manages mutual funds, hedge funds, and fund of funds for its clients through its subsidiaries.