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

CI Financial Corp. (NYSE:CIXXF) declared a dividend on Tuesday, December 24th,investing.com reports. Stockholders 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 is Tuesday, December 31st.

CI Financial has decreased its dividend by an average of 8.0% per year over the last three years. CI Financial has a dividend payout ratio of 18.9% meaning its dividend is sufficiently covered by earnings. Equities research 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 firm’s 50-day simple moving average is $18.86 and its 200 day simple moving average is $14.54. The company has a debt-to-equity ratio of 4.53, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market cap of $3.10 billion, a P/E 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.

Wall Street Analysts Forecast Growth

CIXXF has been the topic of several research reports. Keefe, Bruyette & Woods lowered CI Financial from a “moderate buy” rating to a “hold” rating in a research note on Monday, November 25th. TD Securities lowered CI Financial from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, November 27th.

CI Financial Company Profile

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.