CI Financial Corp. (CIXXF) To Go Ex-Dividend on December 31st

CI Financial Corp. (NYSE:CIXXF) declared a dividend on Tuesday, December 24th,investing.com reports. Shareholders of record on Wednesday, January 1st will be paid a dividend of 0.1457 per share on Wednesday, January 15th. This represents a yield of 2.71%. The ex-dividend date of this dividend 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 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 Price Performance

Shares of CIXXF opened at $21.51 on Thursday. The business has a 50-day moving average of $18.98 and a 200-day moving average of $14.59. CI Financial has a 1 year low of $10.16 and a 1 year high of $22.70. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of -65.17 and a beta of 1.43. The company has a debt-to-equity ratio of 4.53, a current ratio of 0.32 and a quick ratio of 0.32.

Wall Street Analyst Weigh In

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

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.