CI Financial Corp. (NYSE:CIXXF – Get Free Report) declared a dividend on Friday, June 21st, investing.com reports. Stockholders of record on Monday, July 1st will be given a dividend of 0.1481 per share on Monday, July 15th. This represents a dividend yield of 5.76%. The ex-dividend date is Friday, June 28th. This is an increase from CI Financial’s previous dividend of $0.15.
CI Financial has decreased its dividend payment by an average of 8.0% annually over the last three years. CI Financial has a payout ratio of 20.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CI Financial to earn $3.06 per share next year, which means the company should continue to be able to cover its $0.58 annual dividend with an expected future payout ratio of 19.0%.
CI Financial Trading Up 0.9 %
Shares of CIXXF stock opened at $10.37 on Friday. CI Financial has a 52-week low of $9.12 and a 52-week high of $13.11. The company has a debt-to-equity ratio of 3.86, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market capitalization of $1.57 billion, a PE ratio of 4.27 and a beta of 1.36. The stock has a fifty day simple moving average of $11.21 and a two-hundred day simple moving average of $11.63.
Analyst Ratings Changes
Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut CI Financial from a “moderate buy” rating to a “hold” rating in a report on Monday, May 13th. Raymond James upgraded shares of CI Financial from a “hold” rating to a “moderate buy” rating in a research report on Sunday, May 12th.
Read Our Latest Stock Analysis on CIXXF
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.
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