CI Financial Corp. (CIXXF) To Go Ex-Dividend on December 31st

CI Financial Corp. (NYSE:CIXXF) announced a dividend on Tuesday, December 24th,investing.com reports. Shareholders of record on Wednesday, January 1st will be paid a dividend of 0.1457 per share on Wednesday, January 15th. This represents a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, December 31st.

CI Financial has decreased its dividend by an average of 8.0% annually over the last three years. CI Financial has a dividend payout ratio of 19.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect CI Financial to earn $3.02 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 18.5%.

CI Financial Price Performance

Shares of CI Financial stock opened at $21.42 on Friday. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -64.91 and a beta of 1.43. The company has a debt-to-equity ratio of 4.53, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a 50 day moving average price of $19.17 and a 200-day moving average price of $14.73. CI Financial has a one year low of $10.16 and a one year high of $22.70.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods cut shares of CI Financial from a “moderate buy” rating to a “hold” rating in a research report on Monday, November 25th. TD Securities cut shares of CI Financial from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, November 27th.

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.