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

CI Financial Corp. (NYSE:CIXXF) announced a dividend on Saturday, March 22nd, investing.com reports. Stockholders of record on Tuesday, April 1st will be paid a dividend of 0.1432 per share on Tuesday, April 15th. This represents a dividend yield of 2.63%. The ex-dividend date of this dividend is Monday, March 31st.

CI Financial has a payout ratio of 17.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.3 %

Shares of CIXXF opened at $21.76 on Monday. The business’s 50-day moving average price is $21.75 and its 200 day moving average price is $19.06. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 4.53. The stock has a market capitalization of $3.14 billion, a P/E ratio of -65.94 and a beta of 1.41. CI Financial has a 1-year low of $10.16 and a 1-year high of $22.70.

Analyst Ratings Changes

Several equities analysts have weighed in on CIXXF shares. Keefe, Bruyette & Woods cut CI Financial from a “moderate buy” rating to a “hold” rating in a research note on Monday, November 25th. TD Securities downgraded CI Financial from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, November 27th. Finally, Raymond James lowered CI Financial from a “moderate buy” rating to a “strong sell” rating in a report on Thursday, January 23rd.

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.