CI Financial Corp (TSE:CIX) Raises Dividend to $0.12 Per Share
CI Financial Corp (TSE:CIX) declared a monthly dividend on Thursday, July 27th, TickerTech reports. Shareholders of record on Tuesday, August 15th will be paid a dividend of 0.1175 per share on Tuesday, August 15th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend is Thursday, July 27th. This is a boost from CI Financial Corp’s previous monthly dividend of $0.12.
CI Financial Corp (TSE CIX) traded up 0.14% during midday trading on Friday, hitting $27.78. The stock had a trading volume of 280,750 shares. The firm has a market cap of $7.27 billion and a P/E ratio of 14.33. The stock has a 50-day moving average price of $27.33 and a 200 day moving average price of $27.19. CI Financial Corp has a 12-month low of $23.52 and a 12-month high of $29.94.
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Several research analysts recently issued reports on the company. Scotiabank cut their price objective on CI Financial Corp from C$29.00 to C$28.00 and set a “sector perform” rating for the company in a research report on Friday, May 12th. Barclays PLC restated an “overweight” rating and set a C$30.00 price objective on shares of CI Financial Corp in a research report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of C$29.00.
About CI Financial Corp
CI Financial Corp. (CI) is a wealth management and investment fund company. The Company is engaged in management, marketing, distribution and administration of mutual funds, segregated funds, exchange-traded funds, structured products and other fee-earning investment products for Canadian investors. CI operates through two segments: Asset Management and Asset Administration.
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