CI Financial Corp. (NYSE:CIXXF) Increases Dividend to $0.15 Per Share

CI Financial Corp. (NYSE:CIXXFGet Free Report) declared a dividend on Friday, June 21st, reports. Stockholders of record on Monday, July 1st will be given a dividend of 0.1481 per share on Monday, July 15th. This represents a dividend yield of 5.76%. The ex-dividend date 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 payout ratio of 20.1% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 0.4 %

CI Financial stock opened at $10.33 on Friday. The firm has a 50-day moving average of $11.14 and a 200-day moving average of $11.62. CI Financial has a one year low of $9.12 and a one year high of $13.11. The company has a debt-to-equity ratio of 3.86, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 4.30 and a beta of 1.36.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Raymond James upgraded shares of CI Financial from a “hold” rating to a “moderate buy” rating in a research note on Sunday, May 12th. Keefe, Bruyette & Woods downgraded shares of CI Financial from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 13th.

Get Our Latest Stock Analysis on CIXXF

About CI Financial

(Get Free Report)

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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Dividend History for CI Financial (NYSE:CIXXF)

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