CI Financial Corp. (CIXXF) to Issue Dividend of $0.14 on April 15th

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

CI Financial has increased its dividend payment by an average of 64.4% annually over the last three years. CI Financial has a payout ratio of 17.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.1 %

NYSE:CIXXF opened at $21.81 on Friday. CI Financial has a 12 month low of $10.16 and a 12 month high of $22.70. The business’s 50-day moving average is $21.77 and its two-hundred day moving average is $19.28. 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 firm has a market capitalization of $3.15 billion, a PE ratio of -66.09 and a beta of 1.41.

Wall Street Analysts Forecast Growth

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

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.