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

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

CI Financial has a dividend payout ratio of 17.6% indicating that 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 Performance

Shares of NYSE:CIXXF opened at $21.76 on Friday. The company’s 50 day simple moving average is $21.75 and its 200 day simple moving average is $19.01. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of -65.94 and a beta of 1.41. The company has a debt-to-equity ratio of 4.53, a current ratio of 0.32 and a quick ratio of 0.32. CI Financial has a 1 year low of $10.16 and a 1 year high of $22.70.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CIXXF shares. Raymond James cut shares of CI Financial from a “moderate buy” rating to a “strong sell” rating in a research note on Thursday, January 23rd. TD Securities cut shares of CI Financial from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, November 27th. Finally, Keefe, Bruyette & Woods cut shares of CI Financial from a “moderate buy” rating to a “hold” rating in a research note on Monday, November 25th.

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.