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

CI Financial Corp. (NYSE:CIXXF) announced a dividend on Tuesday, December 24th,investing.com reports. Investors of record on Wednesday, January 1st will be paid a dividend of 0.1457 per share on Wednesday, January 15th. This represents a dividend yield of 2.71%. The ex-dividend date of this dividend is Tuesday, December 31st.

CI Financial has decreased its dividend by an average of 8.0% annually over the last three years. CI Financial has a dividend payout ratio of 18.9% 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 Up 0.1 %

Shares of CIXXF opened at $21.51 on Wednesday. The business’s fifty day moving average price is $18.86 and its two-hundred day moving average price is $14.54. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of -65.17 and a beta of 1.43. CI Financial has a 52 week low of $10.16 and a 52 week high of $22.70. The company has a debt-to-equity ratio of 4.53, a quick ratio of 0.32 and a current ratio of 0.32.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CIXXF. 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. Keefe, Bruyette & Woods lowered CI Financial from a “moderate buy” rating to a “hold” rating in a research report on Monday, November 25th.

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.