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

CI Financial Corp. (NYSE:CIXXF) declared 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 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. Equities 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 0.3 %

NYSE CIXXF opened at $21.76 on Friday. CI Financial has a 1 year low of $10.16 and a 1 year high of $22.70. The stock has a market capitalization of $3.14 billion, a PE 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. The business’s 50-day moving average is $21.75 and its 200 day moving average is $18.97.

Wall Street Analysts Forecast Growth

CIXXF has been the subject of several research analyst reports. Raymond James lowered shares of CI Financial from a “moderate buy” rating to a “strong sell” rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods cut CI Financial from a “moderate buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, TD Securities cut CI Financial from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, November 27th.

About CI Financial

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.