Tillkännagivande • May 15
CI Financial Corp., Annual General Meeting, Jun 30, 2025 CI Financial Corp., Annual General Meeting, Jun 30, 2025. Tillkännagivande • Nov 25
CI Financial to Delist from Toronto Stock Exchange Following Closing of the Transaction CI Financial Corp. announced that it has entered into a definitive agreement with an affiliate of Mubadala Capital, the alternative asset management arm of Mubadala Investment Company, to take CI private in a transaction that values CI’s equity at approximately $4.7 billion and implies an enterprise value of approximately $12.1 billion. Following the closing of the transaction, CI will continue to operate with its current structure and management team and will be independent of Mubadala Capital’s other portfolio businesses. CI’s debentures and notes are expected to remain outstanding following closing of the transaction and the financing for the transaction has been structured to maintain CI’s long-term issuer and senior unsecured debt ratings of Baa3 (Stable) by Moody’s. CI’s shares will be delisted from the Toronto Stock Exchange following closing of the transaction; however, CI is expected to remain a reporting issuer under applicable Canadian securities laws as a result of its debentures and notes remaining outstanding. Holders of outstanding shares of preferred equity in CI’s subsidiary, Corient Holdings Inc., have agreed to waive and amend certain liquidity and other rights in connection with the transaction through the closing of the transaction. Mubadala Capital intends to fund up to $750 million of additional cash at closing to reduce the preferred equity outstanding. Following the closing, the parties will continue prioritizing the maintenance of CI’s investment grade senior unsecured debt ratings. Reported Earnings • Nov 16
Third quarter 2024 earnings released: CA$0.19 loss per share (vs CA$0.077 loss in 3Q 2023) Third quarter 2024 results: CA$0.19 loss per share (further deteriorated from CA$0.077 loss in 3Q 2023). Revenue: CA$876.9m (up 11% from 3Q 2023). Net loss: CA$27.6m (loss widened 122% from 3Q 2023). Revenue is forecast to decline by 3.3% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Germany are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Tillkännagivande • Nov 01
CI Financial Corp. to Report Q3, 2024 Results on Nov 14, 2024 CI Financial Corp. announced that they will report Q3, 2024 results on Nov 14, 2024 Buy Or Sell Opportunity • Oct 30
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 35% to €14.80. The fair value is estimated to be €12.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.6% over the last 3 years. Meanwhile, the company became loss making. Declared Dividend • Oct 16
Dividend of CA$0.20 announced Shareholders will receive a dividend of CA$0.20. Ex-date: 31st December 2024 Payment date: 15th January 2025 Dividend yield will be 4.3%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (32% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Declared Dividend • Sep 29
Dividend of CA$0.20 announced Shareholders will receive a dividend of CA$0.20. Ex-date: 31st December 2024 Payment date: 15th January 2025 Dividend yield will be 5.1%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (32% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Upcoming Dividend • Sep 20
Upcoming dividend of CA$0.20 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 15 October 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 4.4%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.7%). Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: CA$1.18 (vs CA$0.28 in 2Q 2023) Second quarter 2024 results: EPS: CA$1.18 (up from CA$0.28 in 2Q 2023). Revenue: CA$1.12b (up 31% from 2Q 2023). Net income: CA$176.4m (up 246% from 2Q 2023). Profit margin: 16% (up from 6.0% in 2Q 2023). Revenue is expected to decline by 3.3% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Germany are expected to grow by 1.2%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Tillkännagivande • Jul 16
CI Financial Corp. to Report Q2, 2024 Results on Aug 08, 2024 CI Financial Corp. announced that they will report Q2, 2024 results on Aug 08, 2024 Declared Dividend • Jun 30
Dividend of CA$0.20 announced Shareholders will receive a dividend of CA$0.20. Ex-date: 27th September 2024 Payment date: 15th October 2024 Dividend yield will be 6.3%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (33% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Tillkännagivande • Jun 01
CI Financial Corp. (TSX:CIX) announces an Equity Buyback for 5,000,000 shares, representing 3.3% for CAD 77.5 million. CI Financial Corp. (TSX:CIX) announces a share repurchase program. Under the substantial issuer bid, the company will repurchase up to 5,000,000 shares, representing 3.3% of its issued share capital for CAD 77.5 million. The shares will be repurchased at a price of CAD 15.5 per share. If more than the maximum number of shares are validly deposited and not withdrawn, then first, the corporation will purchase all shares validly tendered by shareholders who own fewer than 100 shares (the Odd Lot Holders), and then, in the event Odd Lot Holders have tendered less than the maximum number, the corporation will purchase all shares tendered on a pro rata basis according to the number of shares deposited or deemed to be deposited by the depositing shareholders, less the number of shares purchased from Odd Lot Holders (with adjustments to avoid the purchase of fractional shares). The bid will expire on July 8, 2024, unless extended or withdrawn. As of May 30, 2024, the company had 151,383,085 issued and outstanding shares. Reported Earnings • May 10
First quarter 2024 earnings released: CA$1.00 loss per share (vs CA$0.16 profit in 1Q 2023) First quarter 2024 results: CA$1.00 loss per share (down from CA$0.16 profit in 1Q 2023). Revenue: CA$813.9m (up 8.2% from 1Q 2023). Net loss: CA$154.4m (down CA$184.4m from profit in 1Q 2023). Revenue is expected to decline by 1.7% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Germany are expected to grow by 1.7%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Tillkännagivande • May 10
CI Financial Corp. Announces Quarterly Dividend, Payable on October 15, 2024 CI Financial Corp. announced that its Board of Directors has declared a regular quarterly dividend of $0.20 per share of CI's common stock. The dividend will be payable on October 15, 2024 to shareholders of record as of September 30, 2024. Tillkännagivande • Apr 20
CI Financial Corp. to Report Q1, 2024 Results on May 10, 2024 CI Financial Corp. announced that they will report Q1, 2024 results After-Market on May 10, 2024 Tillkännagivande • Apr 13
CI Financial Corp., Annual General Meeting, Jun 26, 2024 CI Financial Corp., Annual General Meeting, Jun 26, 2024, at 14:00 US Eastern Standard Time. Declared Dividend • Mar 28
Dividend of CA$0.20 announced Shareholders will receive a dividend of CA$0.20. Ex-date: 28th June 2024 Payment date: 15th July 2024 Dividend yield will be 5.1%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 25x earnings). However, it is well covered by cash flows (31% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 2,697% to bring the payout ratio under control. EPS is expected to grow by 158% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Upcoming Dividend • Mar 20
Upcoming dividend of CA$0.20 per share Eligible shareholders must have bought the stock before 27 March 2024. Payment date: 15 April 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.7%. Lower than top quartile of German dividend payers (5.0%). Higher than average of industry peers (2.9%). Recent Insider Transactions • Mar 10
Chairman of the Board recently bought €459k worth of stock On the 6th of March, William Holland bought around 40k shares on-market at roughly €11.48 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €1.8m. William has been a buyer over the last 12 months, purchasing a net total of €12m worth in shares. Recent Insider Transactions • Feb 28
Chairman of the Board recently bought €569k worth of stock On the 26th of February, William Holland bought around 50k shares on-market at roughly €11.38 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €1.8m. William has been a buyer over the last 12 months, purchasing a net total of €11m worth in shares. Reported Earnings • Feb 25
Full year 2023 earnings released: EPS: CA$0.03 (vs CA$1.59 in FY 2022) Full year 2023 results: EPS: CA$0.03 (down from CA$1.59 in FY 2022). Revenue: CA$3.17b (up 9.1% from FY 2022). Net income: CA$5.02m (down 98% from FY 2022). Profit margin: 0.2% (down from 10% in FY 2022). Revenue is expected to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Germany are expected to grow by 4.5%. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Tillkännagivande • Feb 23
CI Financial Corp. Declares Quarterly Dividend, Payable on July 15, 2024 The Board of Directors of CI Financial Corp. declared a quarterly dividend of $0.20 per share, payable on July 15, 2024 to shareholders of record as of June 28, 2024. Tillkännagivande • Jan 30
CI Financial Corp. to Report Q4, 2023 Results on Feb 23, 2024 CI Financial Corp. announced that they will report Q4, 2023 results on Feb 23, 2024 Recent Insider Transactions • Jan 19
Chairman of the Board recently bought €1.8m worth of stock On the 17th of January, William Holland bought around 167k shares on-market at roughly €10.54 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. William has been a buyer over the last 12 months, purchasing a net total of €9.8m worth in shares. Recent Insider Transactions • Jan 13
Chairman of the Board recently bought €258k worth of stock On the 4th of January, William Holland bought around 25k shares on-market at roughly €10.30 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €499k. William has been a buyer over the last 12 months, purchasing a net total of €8.6m worth in shares. Recent Insider Transactions • Jan 05
CEO & Director recently sold €845k worth of stock On the 29th of December, Kurt MacAlpine sold around 83k shares on-market at roughly €10.18 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Kurt's only on-market trade for the last 12 months. Recent Insider Transactions • Dec 25
Chairman of the Board recently bought €499k worth of stock On the 21st of December, William Holland bought around 50k shares on-market at roughly €9.98 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €529k. William has been a buyer over the last 12 months, purchasing a net total of €8.0m worth in shares. Tillkännagivande • Dec 21
CI Financial Corp. Announces Executive Changes CI Financial Corp. announced that Darie Urbanky, President, Chief Operating Officer and Head of CI Global Asset Management (“CI GAM”), has decided to retire on or before December 31, 2024. Effective January 1, 2024, Marc-André Lewis, Chief Investment Officer of CI GAM, will assume the role of co-head of CI GAM. Mr. Lewis will retain his current responsibilities as CIO. Mr. Urbanky joined CI in 1996 in its Information Technology department, where he spent 20 years in progressively more senior roles before being named Chief Technology Officer in 2016. He was promoted to Chief Operating Officer in 2018 and named President in 2019. Upcoming Dividend • Dec 21
Upcoming dividend of CA$0.20 per share at 5.3% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 15 January 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.3%. Within top quartile of German dividend payers (5.1%). Higher than average of industry peers (2.8%). Tillkännagivande • Nov 12
CI Financial Corp. (TSX:CIX) announces an Equity Buyback for CAD 100 million worth of its shares. CI Financial Corp. (TSX:CIX) announces a share repurchase program. Under the substantial issuer bid, the company will repurchase up to $100 million worth of its outstanding shares. The shares will be tendered at a price of not less than $13.64 per share and not more than $15.28 per share. The shares purchased under the offer will be cancelled. If the aggregate cost to purchase the tendered shares exceeds $100 million, the company will accept such shares on a pro-rata basis after giving effect to “odd lot” tenders, which will not be subject to pro-ration. The bid will expire on December 18, 2023, unless extended or withdrawn. As of November 9, 2023, the company had 162,784,729 shares in issue. Tillkännagivande • Nov 10
CI Financial Corp. Declares Quarterly Dividend, Payable on April 15, 2024 CI Financial Corp. declared a quarterly dividend of $0.20 per share, payable on April 15, 2024 to shareholders of record as of March 28, 2024. Reported Earnings • Nov 10
Third quarter 2023 earnings released: CA$0.08 loss per share (vs CA$0.08 profit in 3Q 2022) Third quarter 2023 results: CA$0.08 loss per share (down from CA$0.08 profit in 3Q 2022). Revenue: CA$791.7m (up 12% from 3Q 2022). Net loss: CA$12.4m (down 183% from profit in 3Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 1.5% growth forecast for the Capital Markets industry in Germany. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Oct 20
Chairman of the Board recently bought €529k worth of stock On the 13th of October, William Holland bought around 50k shares on-market at roughly €10.58 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €597k. William has been a buyer over the last 12 months, purchasing a net total of €8.0m worth in shares. Tillkännagivande • Oct 20
CI Financial Corp. to Report Q3, 2023 Results on Nov 09, 2023 CI Financial Corp. announced that they will report Q3, 2023 results on Nov 09, 2023 Recent Insider Transactions • Oct 01
Chairman of the Board recently bought €272k worth of stock On the 28th of September, William Holland bought around 25k shares on-market at roughly €10.87 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €597k. William has been a buyer over the last 12 months, purchasing a net total of €8.0m worth in shares. Recent Insider Transactions • Sep 21
Chairman of the Board recently bought €597k worth of stock On the 15th of September, William Holland bought around 50k shares on-market at roughly €11.93 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. William has been a buyer over the last 12 months, purchasing a net total of €8.0m worth in shares. Recent Insider Transactions • Aug 17
Chairman of the Board recently bought €295k worth of stock On the 11th of August, William Holland bought around 25k shares on-market at roughly €11.80 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. William has been a buyer over the last 12 months, purchasing a net total of €8.8m worth in shares. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: CA$0.28 (vs CA$0.82 in 2Q 2022) Second quarter 2023 results: EPS: CA$0.28 (down from CA$0.82 in 2Q 2022). Revenue: CA$854.5m (up 18% from 2Q 2022). Net income: CA$51.0m (down 67% from 2Q 2022). Profit margin: 6.0% (down from 22% in 2Q 2022). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Capital Markets industry in Germany. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Tillkännagivande • Jul 26
CI Financial Corp. to Report Q2, 2023 Results on Aug 10, 2023 CI Financial Corp. announced that they will report Q2, 2023 results on Aug 10, 2023 Tillkännagivande • Jul 14
Audax Management Company, LLC and the management of Congress Wealth Management completed the acquisition of unknown minority stake in Congress Wealth Management, LLC from CI Financial Corp. (TSX:CIX). Audax Management Company, LLC and the management of Congress Wealth Management agreed to acquire unknown minority stake in Congress Wealth Management, LLC from CI Financial Corp. (TSX:CIX) on April 27, 2023. CI Financial Corp sold 45% stake in the transaction. Audax is partnering with management on the investment to recapitalize Congress. CI received a return of approximately three times its initial investment in Congress and will use the proceeds from the transaction to pay down debt. The transaction is expected to close in May 2023. Daniel A. Guerin, Jeffrey Seifman, Benjamin J. Dionne, Whitney L. Bosworth, Alexander Flynn-Tabloff, Ashley S. Gregory and Rachel L. Cantor of Kirkland & Ellis LLP acted as legal advisor to Audax Management Company in the transaction. Gladstone Associates, LLC served as advisor for the transaction. ArentFox Schiff LLP acted as legal advisor to Congress Wealth Management.
Audax Management Company, LLC and the management of Congress Wealth Management completed the acquisition of unknown minority stake in Congress Wealth Management, LLC from CI Financial Corp. (TSX:CIX) on April 27, 2023. Upcoming Dividend • Jun 22
Upcoming dividend of CA$0.18 per share at 4.9% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 14 July 2023. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 4.9%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.0%). Recent Insider Transactions • Jun 15
Chairman of the Board recently bought €253k worth of stock On the 12th of June, William Holland bought around 25k shares on-market at roughly €10.13 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €867k. William has been a buyer over the last 12 months, purchasing a net total of €8.9m worth in shares. Recent Insider Transactions • May 29
Chairman of the Board recently bought €225k worth of stock On the 26th of May, William Holland bought around 25k shares on-market at roughly €8.99 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €867k. William has been a buyer over the last 12 months, purchasing a net total of €8.0m worth in shares. Valuation Update With 7 Day Price Move • May 19
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €8.45, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 15x in the Capital Markets industry in Germany. Total loss to shareholders of 5.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €15.50 per share. Recent Insider Transactions • May 15
Chairman of the Board recently bought €867k worth of stock On the 12th of May, William Holland bought around 100k shares on-market at roughly €8.67 per share. This transaction amounted to 1.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. William has been a buyer over the last 12 months, purchasing a net total of €7.2m worth in shares. Reported Earnings • May 12
First quarter 2023 earnings released: EPS: CA$0.16 (vs CA$0.70 in 1Q 2022) First quarter 2023 results: EPS: CA$0.16 (down from CA$0.70 in 1Q 2022). Revenue: CA$752.0m (flat on 1Q 2022). Net income: CA$30.0m (down 78% from 1Q 2022). Profit margin: 4.0% (down from 18% in 1Q 2022). Revenue is expected to decline by 2.6% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Germany are expected to grow by 1.9%. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 23
Upcoming dividend of CA$0.18 per share at 5.6% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 14 April 2023. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 5.6%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.2%). Reported Earnings • Feb 26
Full year 2022 earnings released: EPS: CA$1.59 (vs CA$2.03 in FY 2021) Full year 2022 results: EPS: CA$1.59 (down from CA$2.03 in FY 2021). Revenue: CA$2.91b (up 5.9% from FY 2021). Net income: CA$299.8m (down 27% from FY 2021). Profit margin: 10% (down from 15% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 3.2% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Germany are expected to grow by 2.1%. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Tillkännagivande • Jan 24
CI Financial Corp. to Report Q4, 2022 Results on Feb 24, 2023 CI Financial Corp. announced that they will report Q4, 2022 results on Feb 24, 2023 Recent Insider Transactions • Jan 22
Chairman of the Board recently bought €583k worth of stock On the 19th of January, William Holland bought around 56k shares on-market at roughly €10.45 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €719k. William has been a buyer over the last 12 months, purchasing a net total of €9.9m worth in shares. Upcoming Dividend • Dec 22
Upcoming dividend of CA$0.18 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 13 January 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 5.2%. Within top quartile of German dividend payers (5.1%). Higher than average of industry peers (2.9%). Recent Insider Transactions • Dec 21
Chairman of the Board recently bought €719k worth of stock On the 16th of December, William Holland bought around 78k shares on-market at roughly €9.26 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. William has been a buyer over the last 12 months, purchasing a net total of €9.8m worth in shares. Reported Earnings • Nov 16
Third quarter 2022 earnings released: CA$1.51 loss per share (vs CA$1.06 loss in 3Q 2021) Third quarter 2022 results: CA$1.51 loss per share (further deteriorated from CA$1.06 loss in 3Q 2021). Net loss: CA$279.5m (loss widened 41% from 3Q 2021). Revenue is forecast to stay flat during the next 3 years compared to a 4.4% growth forecast for the Capital Markets industry in Germany. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 10% per year. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent Director Sarah Ward was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 11
Third quarter 2022 earnings released: CA$1.64 loss per share (vs CA$0.22 profit in 3Q 2021) Third quarter 2022 results: CA$1.64 loss per share (down from CA$0.22 profit in 3Q 2021). Net loss: CA$279.5m (down CA$323.3m from profit in 3Q 2021). Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Capital Markets industry in Germany. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 12% per year. Tillkännagivande • Nov 11
CI Financial Corp. Declares Quarterly Dividend, Payable on April 14, 2023 The Board of Directors of CI Financial Corp. declared a quarterly dividend of $0.18 per share, payable on April 14, 2023 to shareholders of record on March 31, 2023. Board Change • Nov 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent Director Sarah Ward was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Oct 20
CI Financial Corp. to Report Q3, 2022 Results on Nov 10, 2022 CI Financial Corp. announced that they will report Q3, 2022 results on Nov 10, 2022 Recent Insider Transactions • Oct 12
Chairman of the Board recently bought €514k worth of stock On the 4th of October, William Holland bought around 50k shares on-market at roughly €10.28 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €590k. William has been a buyer over the last 12 months, purchasing a net total of €11m worth in shares. Board Change • Oct 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent Director Sarah Ward was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Sep 24
Chairman of the Board recently bought €132k worth of stock On the 16th of September, William Holland bought around 12k shares on-market at roughly €11.15 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €590k. William has been a buyer over the last 12 months, purchasing a net total of €9.8m worth in shares. Upcoming Dividend • Sep 21
Upcoming dividend of CA$0.18 per share Eligible shareholders must have bought the stock before 28 September 2022. Payment date: 14 October 2022. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of German dividend payers (5.0%). Higher than average of industry peers (3.0%). Recent Insider Transactions • Sep 07
Chairman of the Board recently bought €376k worth of stock On the 1st of September, William Holland bought around 35k shares on-market at roughly €10.74 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €590k. William has been a buyer over the last 12 months, purchasing a net total of €9.7m worth in shares. Recent Insider Transactions • Aug 30
Chairman of the Board recently bought €564k worth of stock On the 23rd of August, William Holland bought around 50k shares on-market at roughly €11.27 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €590k. William has been a buyer over the last 12 months, purchasing a net total of €9.1m worth in shares. Recent Insider Transactions • Aug 18
Chairman of the Board recently bought €590k worth of stock On the 12th of August, William Holland bought around 50k shares on-market at roughly €11.79 per share. This was the largest purchase by an insider in the last 3 months. William has been a buyer over the last 12 months, purchasing a net total of €8.1m worth in shares. Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: CA$0.82 (vs CA$0.58 in 2Q 2021) Second quarter 2022 results: EPS: CA$0.82 (up from CA$0.58 in 2Q 2021). Revenue: CA$723.5m (up 9.2% from 2Q 2021). Net income: CA$156.2m (up 33% from 2Q 2021). Profit margin: 22% (up from 18% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to stay flat compared to a 7.7% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 4% per year. Tillkännagivande • Aug 12
CI Financial Corp. Declares Quarterly Dividend, Payable on January 13, 2023 CI Financial Corp. announced the board of directors declared a quarterly dividend of $0.18 per share, payable on January 13, 2023 to shareholders of record on December 30, 2022. Recent Insider Transactions • Jul 24
Chairman of the Board recently bought €561k worth of stock On the 22nd of July, William Holland bought around 50k shares on-market at roughly €11.22 per share. This was the largest purchase by an insider in the last 3 months. William has been a buyer over the last 12 months, purchasing a net total of €9.2m worth in shares. Tillkännagivande • Jul 20
CI Financial Corp. to Report Q2, 2022 Results on Aug 11, 2022 CI Financial Corp. announced that they will report Q2, 2022 results on Aug 11, 2022 Upcoming Dividend • Jun 22
Upcoming dividend of CA$0.18 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 15 July 2022. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 5.0%. Within top quartile of German dividend payers (4.4%). Higher than average of industry peers (3.0%). Recent Insider Transactions • Jun 04
President & COO recently bought €117k worth of stock On the 1st of June, Darie Urbanky bought around 10k shares on-market at roughly €11.70 per share. In the last 3 months, there was an even bigger purchase from another insider worth €673k. Despite this recent buy, Darie has been a net seller over the last 12 months, reducing personal holdings by €140k. Reported Earnings • May 13
First quarter 2022 earnings released: EPS: CA$0.70 (vs CA$0.60 in 1Q 2021) First quarter 2022 results: EPS: CA$0.70 (up from CA$0.60 in 1Q 2021). Revenue: CA$757.6m (up 18% from 1Q 2021). Net income: CA$138.1m (up 11% from 1Q 2021). Profit margin: 18% (down from 19% in 1Q 2021). Over the next year, revenue is forecast to grow 7.4% compared to a 7.8% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 8% per year. Tillkännagivande • May 13
CI Financial Corp. Declares Quarterly Dividend of $0.18 Per Share, Payable on October 14, 2022 CI Financial Corp. declared a quarterly dividend of $0.18 per share, payable on October 14, 2022 to shareholders of record on September 30, 2022. The annual dividend rate of $0.72 per share represented a yield of 4.8% on CI's closing share price of $14.68 on May 11, 2022. Recent Insider Transactions • Apr 20
Chairman of the Board recently bought €673k worth of stock On the 14th of April, William Holland bought around 50k shares on-market at roughly €13.47 per share. In the last 3 months, they made an even bigger purchase worth €1.6m. William has been a buyer over the last 12 months, purchasing a net total of €11m worth in shares. Tillkännagivande • Apr 20
CI Financial Corp. to Report Q1, 2022 Results on May 12, 2022 CI Financial Corp. announced that they will report Q1, 2022 results on May 12, 2022 Tillkännagivande • Apr 07
CI Financial Corp., Annual General Meeting, Jun 22, 2022 CI Financial Corp., Annual General Meeting, Jun 22, 2022, at 14:00 Eastern Daylight. Reported Earnings • Apr 04
Full year 2021 earnings released: EPS: CA$2.03 (vs CA$2.22 in FY 2020) Full year 2021 results: EPS: CA$2.03 (down from CA$2.22 in FY 2020). Revenue: CA$2.75b (up 33% from FY 2020). Net income: CA$409.3m (down 14% from FY 2020). Profit margin: 15% (down from 23% in FY 2020). Over the next year, revenue is forecast to grow 17% compared to a 7.3% decline forecast for the funds industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Tillkännagivande • Apr 01
CI Financial Corp. (TSX:CIX) entered into an agreement to acquire Certain Assets of Eaton Vance WaterOak Advisors. CI Financial Corp. (TSX:CIX) entered into an agreement to acquire Certain Assets of Eaton Vance WaterOak Advisors on March 31, 2022. The transaction is subjected to regulatory approvals and other customary closing conditions. The transaction is expected to close in the fourth quarter of 2022. The Asset & Wealth Management Investment
Banking Group of Raymond James & Associates, Inc. served as exclusive financial advisor to CI, and Hogan Lovells US LLP served as CI's legal counsel. Recent Insider Transactions • Mar 24
Insider recently bought €42k worth of stock On the 16th of March, Christopher Enright bought around 3k shares on-market at roughly €14.24 per share. In the last 3 months, there was an even bigger purchase from another insider worth €1.6m. Insiders have collectively bought €9.7m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 23
Insider recently bought €42k worth of stock On the 16th of March, Christopher Enright bought around 3k shares on-market at roughly €14.24 per share. In the last 3 months, there was an even bigger purchase from another insider worth €1.6m. Insiders have collectively bought €9.7m more in shares than they have sold in the last 12 months. Upcoming Dividend • Mar 23
Upcoming dividend of CA$0.18 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 14 April 2022. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 3.6%. Within top quartile of German dividend payers (3.6%). Higher than average of industry peers (2.4%). Recent Insider Transactions • Mar 22
Insider recently bought €42k worth of stock On the 16th of March, Christopher Enright bought around 3k shares on-market at roughly €14.24 per share. In the last 3 months, there was an even bigger purchase from another insider worth €1.6m. Insiders have collectively bought €9.7m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 22
Insider recently bought €42k worth of stock On the 16th of March, Christopher Enright bought around 3k shares on-market at roughly €14.24 per share. In the last 3 months, there was an even bigger purchase from another insider worth €1.6m. Insiders have collectively bought €9.7m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 21
Insider recently bought €42k worth of stock On the 16th of March, Christopher Enright bought around 3k shares on-market at roughly €14.24 per share. In the last 3 months, there was an even bigger purchase from another insider worth €1.6m. Insiders have collectively bought €9.7m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 09
Independent Chairman of the Board recently bought €725k worth of stock On the 4th of March, William Holland bought around 50k shares on-market at roughly €14.50 per share. In the last 3 months, they made an even bigger purchase worth €1.6m. William has been a buyer over the last 12 months, purchasing a net total of €10m worth in shares. Recent Insider Transactions • Feb 26
Independent Chairman of the Board recently bought €1.4m worth of stock On the 23rd of February, William Holland bought around 100k shares on-market at roughly €14.43 per share. In the last 3 months, they made an even bigger purchase worth €1.6m. William has been a buyer over the last 12 months, purchasing a net total of €10m worth in shares. 
