CION Investment Corporation Declares Monthly Dividend of $0.10 (NYSE:CION)

CION Investment Corporation (NYSE:CION) announced a monthly dividend on Thursday, August 6th. Shareholders of record on Friday, December 11th will be paid a dividend of 0.10 per share on Monday, December 28th. This represents a c) annualized dividend and a dividend yield of 16.5%. The ex-dividend date is Friday, December 11th.

CION Investment has a dividend payout ratio of 95.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect CION Investment to earn $1.09 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 110.1%.

CION Investment Price Performance

NYSE CION traded up $1.02 during midday trading on Thursday, hitting $7.25. 1,922,422 shares of the company traded hands, compared to its average volume of 575,602. The company’s 50-day simple moving average is $6.43 and its 200-day simple moving average is $7.28. CION Investment has a 52 week low of $5.83 and a 52 week high of $10.93. The company has a market cap of $361.22 million, a PE ratio of -181.33 and a beta of 1.11.

CION Investment (NYSE:CION) last issued its earnings results on Wednesday, August 5th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.36. The business had revenue of $49.79 million during the quarter, compared to analysts’ expectations of $49.78 million. CION Investment had a negative net margin of 0.41% and a positive return on equity of 11.96%. On average, research analysts predict that CION Investment will post 1.05 earnings per share for the current year.

About CION Investment

CION Investment Corporation is a closed‐end, non‐diversified management investment company organized as a business development company under the Investment Company Act of 1940. Externally managed by CION Investment Management, LLC, the firm specializes in providing flexible capital solutions to U.S. and Canadian middle‐market companies. By combining debt and equity financing, CION seeks to support growth, acquisitions, recapitalizations and other strategic initiatives for its portfolio companies.

The company’s investment strategy centers on senior secured loans, subordinated debt and private equity interests.