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

CI Financial Corp. (NYSE:CIXXF) announced a dividend on Tuesday, December 24th,investing.com reports. Investors of record on Wednesday, January 1st will be given a dividend of 0.1457 per share on Wednesday, January 15th. This represents a yield of 2.71%. The ex-dividend date 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 19.0% meaning 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 Trading Up 10.4 %

NYSE CIXXF opened at $21.42 on Friday. The company’s 50-day simple moving average is $19.17 and its two-hundred day simple moving average is $14.73. CI Financial has a one year low of $10.16 and a one year high of $22.70. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of -64.91 and a beta of 1.43. 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 Analysts Forecast Growth

A number of equities analysts recently commented on CIXXF shares. Keefe, Bruyette & Woods downgraded shares of 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 research report on Wednesday, November 27th.

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.