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

CI Financial Corp. (NYSE:CIXXF - Get Free Report) 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 yield of 2.63%. The ex-dividend date of this dividend is Monday, March 31st.

CI Financial has a 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 Price Performance

Shares of NYSE CIXXF remained flat at $21.84 during mid-day trading on Wednesday. 822 shares of the stock were exchanged, compared to its average volume of 19,816. CI Financial has a 52 week low of $10.16 and a 52 week high of $22.70. The stock has a 50 day moving average of $21.76 and a 200 day moving average of $19.20. The stock has a market cap of $3.15 billion, a PE ratio of -66.18 and a beta of 1.41. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 4.53.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CIXXF shares. Raymond James cut CI Financial from a "moderate buy" rating to a "strong sell" rating in a report on Thursday, January 23rd. TD Securities cut shares of CI Financial from a "strong-buy" rating to a "strong sell" rating in a report on Wednesday, November 27th.

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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.