CI Financial Corp. (NYSE:CIXXF) Announces Dividend Payment

CI Financial Corp. (NYSE:CIXXF) has announced that it will pay a dividend of $0.1432 per share. The declaration was made on Saturday, March 22nd, and shareholders on record by Tuesday, April 1st, will receive this payment on Tuesday, April 15th. This dividend translates to an annual yield of 2.63%. It's important to note that the ex-dividend date for this stock is set for Monday, March 31st.

CI Financial shows a healthy dividend payout ratio of 17.6%, indicating that its earnings sufficiently cover the dividend payments. Analysts predict that the company will earn $3.02 per share in the upcoming year, allowing it to comfortably maintain its annual dividend, which totals $0.56, with an anticipated future payout ratio of 18.5%.

Current Stock Performance

As of the latest trading session, CIXXF shares opened at $21.76. Over the past year, the stock has experienced a significant range in value, with a low of $10.16 and a high of $22.70. The company's market capitalization stands at $3.14 billion, while its price-to-earnings (PE) ratio is currently at -65.94. Additionally, the stock has a beta of 1.41, suggesting higher volatility compared to the market.

In terms of financial ratios, CI Financial has a debt-to-equity ratio of 4.53. Its current and quick ratios are both 0.32, indicating potential liquidity concerns. The 50-day moving average of the stock is positioned at $21.75, while the 200-day moving average sits at $18.97.

Wall Street Insights and Ratings

CI Financial has recently undergone several rating adjustments by analysts. Raymond James downgraded its position from a "moderate buy" to a "strong sell" on January 23rd. Similarly, Keefe, Bruyette & Woods downgraded CI Financial from a "moderate buy" to a "hold" rating on November 25th. Additionally, TD Securities also revised its stance, moving CI Financial from a "strong buy" to a "strong sell" on November 27th.

About CI Financial Corp.

CI Financial Corp. is a publicly traded asset management company, which manages a range of investment portfolios, including equities, fixed income, and alternative investments through its subsidiaries. It is also involved in the management of mutual funds, hedge funds, and various other investment funds.

Dividend, Investing, Stocks