CI Financial Corp. (NYSE:CIXXF – Get Free Report) announced a dividend on Friday, June 21st, investing.com reports. Shareholders of record on Monday, July 1st will be paid a dividend of 0.1481 per share on Monday, July 15th. This represents a yield of 5.76%. The ex-dividend date of this dividend is Friday, June 28th. This is an increase from CI Financial’s previous dividend of $0.15.
CI Financial has decreased its dividend by an average of 8.0% per year over the last three years. CI Financial has a dividend payout ratio of 20.1% indicating that 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 Price Performance
NYSE CIXXF traded up $0.07 on Thursday, reaching $10.55. The company’s stock had a trading volume of 8,880 shares, compared to its average volume of 11,001. CI Financial has a twelve month low of $9.12 and a twelve month 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’s 50 day moving average is $11.06 and its two-hundred day moving average is $11.63. The stock has a market cap of $1.60 billion, a PE ratio of 4.35 and a beta of 1.36.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods cut CI Financial from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 13th. Raymond James upgraded shares of CI Financial from a “hold” rating to a “moderate buy” rating in a research note on Sunday, May 12th.
Read Our Latest Research Report 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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