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

CI Financial Corp. (NYSE:CIXXF) declared a dividend on Saturday, March 22nd, investing.com reports. Investors of record on Tuesday, April 1st will be paid a dividend of 0.1432 per share on Tuesday, April 15th. This represents a yield of 2.63%. The ex-dividend date is Monday, March 31st.

CI Financial has a payout ratio of 17.6% 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 Trading Down 0.3 %

NYSE:CIXXF opened at $21.76 on Friday. The company has a market cap of $3.14 billion, a PE ratio of -65.94 and a beta of 1.41. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 4.53. The company has a 50 day simple moving average of $21.75 and a two-hundred day simple moving average of $18.97. CI Financial has a 12 month low of $10.16 and a 12 month high of $22.70.

Analysts Set New Price Targets

Several brokerages recently commented on CIXXF. TD Securities lowered CI Financial from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, November 27th. Keefe, Bruyette & Woods downgraded CI Financial from a “moderate buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, Raymond James cut shares of CI Financial from a “moderate buy” rating to a “strong sell” rating in a research note on Thursday, January 23rd.

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.