CI Financial Corp. Declares Dividend of $0.14

CI Financial Corp. (NYSE:CIXXF) made an announcement regarding a dividend on Saturday, March 22nd. Shareholders who are on record as of Tuesday, April 1st, will receive a dividend payout of $0.1432 per share on Tuesday, April 15th. This dividend yields approximately 2.63%. The ex-dividend date falls on Monday, March 31st.

CI Financial has a dividend payout ratio of 17.6%, which indicates that its dividend is well-supported by its earnings. Analysts project that CI Financial will achieve earnings of $3.02 per share in the coming year. This anticipated earnings figure suggests that the company should comfortably cover its annual dividend of $0.56, with an estimated future payout ratio of 18.5%.

Stock Performance and Financial Metrics

On the NYSE, CIXXF opened at $21.76 on Friday. The stock has experienced a one-year low of $10.16 and a one-year high of $22.70. CI Financial holds a market capitalization of $3.14 billion with a PE ratio recorded at -65.94 and a beta of 1.41. The company's debt-to-equity ratio is 4.53, while both the current and quick ratios are at 0.32. The 50-day moving average for the stock is $21.75, and the 200-day moving average stands at $18.97.

Analyst Ratings and Future Outlook

CI Financial has recently been reviewed by various equity research analysts. In a report dated January 23rd, Raymond James downgraded the shares from a "moderate buy" to a "strong sell" rating. Likewise, Keefe, Bruyette & Woods also revised their stance, lowering it from a "moderate buy" to a "hold" rating on November 25th. Additionally, TD Securities adjusted their rating from "strong-buy" to "strong sell" on November 27th.

About CI Financial Corp.

CI Financial Corp. is a publicly traded asset management holding company. It manages a variety of investment portfolios, including client-focused equity, fixed income, and alternative investments. The firm offers mutual funds, hedge funds, and funds of funds through its subsidiaries.

Investment Considerations

Before making any investment decisions related to CI Financial, investors should stay informed about future market forecasts and consider obtaining insights from top analysts regarding potential alternative investments.

dividend, financial, stocks