CI Financial Corp. Declares Dividend of $0.15 (NYSE:CIXXF)

CI Financial Corp. (NYSE:CIXXF) declared a dividend on Saturday, September 21st, investing.com reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.1471 per share on Tuesday, October 15th. This represents a yield of 4.37%. The ex-dividend date is Friday, September 27th.

CI Financial has decreased its dividend payment by an average of 8.0% per year over the last three years. CI Financial has a dividend payout ratio of 20.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect CI Financial to earn $2.84 per share next year, which means the company should continue to be able to cover its $0.59 annual dividend with an expected future payout ratio of 20.8%.

CI Financial Stock Up 1.1 %

Shares of NYSE CIXXF opened at $13.46 on Monday. CI Financial has a 52-week low of $9.12 and a 52-week high of $13.48. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 3.53. The company’s 50-day simple moving average is $12.27 and its 200-day simple moving average is $11.78. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -15.30 and a beta of 1.35.

CI Financial (NYSE:CIXXF) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.66 earnings per share (EPS) for the quarter. CI Financial had a positive return on equity of 50.83% and a negative net margin of 1.90%. The company had revenue of $720.62 million for the quarter. Equities analysts predict that CI Financial will post 2.65 EPS for the current fiscal year.

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.