CI Financial Corp. Declares Dividend of $0.14

CI Financial Corp. (NYSE:CIXXF) announced a dividend on Saturday, March 22nd. Shareholders who own shares by Tuesday, April 1st, will receive a dividend of $0.1432 per share, which will be paid on Tuesday, April 15th. This dividend yields 2.63%. The ex-dividend date, which is the last day to buy shares to qualify for the dividend, is set for Monday, March 31st.

CI Financial has a dividend payout ratio of 17.6%, indicating that its dividend payments are well-supported by its earnings. Analysts project that CI Financial will earn $3.02 per share in the coming year, suggesting the company can maintain its annual dividend of $0.56, with an anticipated future payout ratio of 18.5%.

Recent Stock Performance

As of Friday, CI Financial's stock opened at $21.76. Over the past year, the stock has seen a low of $10.16 and a high of $22.70. The company has a market capitalization of $3.14 billion. Its price-to-earnings (PE) ratio stands at -65.94, and the stock has a beta of 1.41, indicating its volatility compared to the market. The company’s debt-to-equity ratio is 4.53, while both its current and quick ratios are 0.32. CI Financial's 50-day moving average is $21.75, with its 200-day moving average at $18.97.

Analyst Ratings and Future Projections

Several stock analysts have recently reviewed CI Financial. In a report dated January 23rd, Raymond James downgraded the shares from a “moderate buy” rating to a “strong sell” rating. Similarly, Keefe, Bruyette & Woods reduced its rating from “moderate buy” to “hold” on November 25th. On November 27th, TD Securities also downgraded CI Financial from a “strong buy” rating to a “strong sell.” These ratings suggest a cautious outlook for the company's stock in the near term.

About CI Financial

CI Financial Corp. is a publicly traded asset management holding company. Through various subsidiaries, the company manages equity, fixed income, and alternative investment portfolios tailored to different client needs. It also oversees mutual funds, hedge funds, and fund of funds.

dividend, stock, investment