CI Financial Corp. to Issue Quarterly Dividend of $0.20 (TSE:CIX)

CI Financial Corp. (TSE:CIX) declared a quarterly dividend on Monday, March 31st, TickerTech Dividends reports. Investors of record on Tuesday, April 15th will be given a dividend of 0.20 per share on Tuesday, April 15th. This represents a $0.80 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Monday, March 31st.

CI Financial has increased its dividend payment by an average of 14.5% per year over the last three years.

CI Financial Stock Performance

CIX stock traded up C$0.01 during trading hours on Friday, reaching C$31.22. The stock had a trading volume of 404,998 shares, compared to its average volume of 723,513. CI Financial has a fifty-two week low of C$13.87 and a fifty-two week high of C$31.48. The stock has a market capitalization of C$4.50 billion, a PE ratio of -65.08, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The stock has a 50-day simple moving average of C$31.25 and a 200 day simple moving average of C$27.03. The company has a debt-to-equity ratio of 506.88, a current ratio of 0.32 and a quick ratio of 0.17.

Analyst Upgrades and Downgrades

Separately, Raymond James lowered CI Financial from a “moderate buy” rating to a “strong sell” rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, CI Financial has an average rating of “Hold” and an average target price of C$27.94.

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.