CI Financial Corp. (NYSE:CIXXF) Declares Dividend Increase – $0.15 Per Share

CI Financial Corp. (NYSE:CIXXF) declared a dividend on Friday, June 21st, investing.com reports. Shareholders of record on Monday, July 1st will be given a dividend of 0.1481 per share on Monday, July 15th. This represents a yield of 5.76%. The ex-dividend date is Friday, June 28th. This is a boost 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% 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

CIXXF stock opened at $10.37 on Friday. The business has a 50-day simple moving average of $11.21 and a two-hundred day simple moving average of $11.63. 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 company has a market capitalization of $1.57 billion, a P/E ratio of 4.27 and a beta of 1.36. CI Financial has a 52-week low of $9.12 and a 52-week high of $13.11.

CI Financial (NYSE:CIXXF) last announced its quarterly earnings data on Friday, May 10th. The company reported $0.64 earnings per share for the quarter, meeting the consensus estimate of $0.64. CI Financial had a positive return on equity of 46.20% and a negative net margin of 6.49%. The business had revenue of $478.96 million during the quarter, compared to analyst estimates of $510.79 million. Research analysts expect that CI Financial will post 2.75 EPS for the current fiscal year.

Analyst Ratings Changes

CIXXF has been the subject of a number of analyst reports. Raymond James raised CI Financial from a “hold” rating to a “moderate buy” rating in a report on Sunday, May 12th. Keefe, Bruyette & Woods downgraded CI Financial from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 13th.

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.