IGM Financial Inc. (TSE:IGM) Plans Quarterly Dividend of $0.56

IGM Financial Inc. (TSE:IGM) declared a quarterly dividend on Tuesday, December 30th, TickerTech Dividends reports. Stockholders of record on Friday, January 30th will be given a dividend of 0.5625 per share by the financial services provider on Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, December 30th. This is a 0.1% increase from IGM Financial’s previous quarterly dividend of $0.56.

IGM Financial Trading Down 0.5%

IGM Financial stock opened at C$62.31 on Friday. The company has a debt-to-equity ratio of 97.24, a current ratio of 3.61 and a quick ratio of 0.31. IGM Financial has a one year low of C$38.89 and a one year high of C$63.50. The stock has a market capitalization of C$14.69 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 4.09 and a beta of 1.06. The business’s fifty day moving average is C$57.29 and its 200 day moving average is C$50.87.

IGM Financial (TSE:IGM) last issued its earnings results on Thursday, November 6th. The financial services provider reported C$1.27 earnings per share for the quarter. The business had revenue of C$971.88 million during the quarter. IGM Financial had a return on equity of 12.76% and a net margin of 27.93%. On average, sell-side analysts predict that IGM Financial will post 4.006816 EPS for the current year.

Insider Activity at IGM Financial

In other news, insider Rhonda Goldberg sold 8,636 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of C$57.00, for a total transaction of C$492,252.00. Also, Director Esther Findlay sold 3,280 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of C$57.59, for a total value of C$188,895.20. Following the completion of the sale, the director owned 6,996 shares of the company’s stock, valued at C$402,899.64. This trade represents a 31.92% decrease in their ownership of the stock. Insiders sold 34,904 shares of company stock worth $1,982,131 over the last quarter. Insiders own 66.58% of the company’s stock.

About IGM Financial

IGM Financial is the largest non-bank-affiliated asset manager in Canada. The firm is part of the Power Financial group of companies, which includes Great-West Life, London Life, Canada Life, and Putnam Investments. IGM has two main operating divisionsasset management (operated through Mackenzie Investments) and wealth management (via its Investors Group Wealth Management and Investment Planning Counsel subsidiaries)that provide investment management products and services. IGM Financial had CAD 225.6 billion in assets under management, or AUM, and CAD 30.1 billion in assets under advisement at the end of May 2022.