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

CI Financial Corp. (NYSE:CIXXF) declared a dividend on Tuesday, December 24th,investing.com reports. Stockholders of record on Wednesday, January 1st will be given 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 payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. 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 CIXXF stock opened at $21.48 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 4.53. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of -65.08 and a beta of 1.43. The business’s fifty day moving average is $18.73 and its 200 day moving average is $14.46. CI Financial has a twelve month low of $10.16 and a twelve month high of $22.70.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CIXXF. TD Securities lowered 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 cut 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.