CI Financial Corp. (NYSE:CIXXF) Plans 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 given 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 by an average of 8.0% annually over the last three years. CI Financial has a payout ratio of 20.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

CIXXF opened at $13.46 on Friday. CI Financial has a 1 year low of $9.12 and a 1 year high of $13.48. The stock has a market cap of $2.04 billion, a PE ratio of -15.30 and a beta of 1.35. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 3.53. The stock’s 50 day simple moving average is $12.27 and its 200-day simple moving average is $11.78.

CI Financial (NYSE:CIXXF) last announced its earnings results on Thursday, August 8th. The company reported $0.66 EPS for the quarter. CI Financial had a positive return on equity of 50.83% and a negative net margin of 1.90%. The company had revenue of $720.62 million for the quarter. Sell-side analysts forecast that CI Financial will post 2.65 EPS for the current 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.