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

CI Financial Corp. (NYSE:CIXXF) announced a dividend on Saturday, September 21st, investing.com reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.1471 per share on Tuesday, October 15th. This represents a 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% annually over the last three years. CI Financial has a payout ratio of 20.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NYSE:CIXXF opened at $13.46 on Friday. The stock’s 50 day moving average price is $12.27 and its two-hundred day moving average price is $11.78. CI Financial has a 12-month low of $9.12 and a 12-month high of $13.48. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -15.30 and a beta of 1.35. 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 posted its quarterly earnings data on Thursday, August 8th. The company reported $0.66 earnings per share (EPS) for the quarter. The firm 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, analysts anticipate that CI Financial will post 2.65 earnings per share 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.