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

CI Financial Corp. (NYSE:CIXXF) declared a dividend on Saturday, September 21st, investing.com reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.1471 per share on Tuesday, October 15th. This represents a dividend yield of 4.37%. The ex-dividend date is Friday, September 27th.

CI Financial has decreased its dividend payment by an average of 8.0% per year over the last three years. CI Financial has a dividend payout ratio of 20.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect CI Financial to earn $2.84 per share next year, which means the company should continue to be able to cover its $0.59 annual dividend with an expected future payout ratio of 20.8%.

CI Financial Trading Up 1.1 %

Shares of CIXXF stock opened at $13.46 on Friday. The stock has a 50-day simple moving average of $12.27 and a 200 day simple moving average of $11.78. The stock has a market capitalization of $2.04 billion, a P/E ratio of -15.30 and a beta of 1.35. CI Financial has a fifty-two week low of $9.12 and a fifty-two week high of $13.48. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 3.53.

CI Financial (NYSE:CIXXF) last released its earnings results on Thursday, August 8th. The company reported $0.66 EPS for the quarter. The business had revenue of $720.62 million during the quarter. CI Financial had a negative net margin of 1.90% and a positive return on equity of 50.83%. On average, sell-side analysts expect that CI Financial will post 2.65 earnings per share for the current fiscal year.

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.