CION Investment Corporation (NYSE:CION) to Issue $0.10 Monthly Dividend

CION Investment Corporation (NYSE:CION) declared a monthly dividend on Monday, March 9th. Shareholders of record on Friday, April 10th will be given a dividend of 0.10 per share on Friday, April 24th. This represents a c) dividend on an annualized basis and a yield of 17.0%. The ex-dividend date is Friday, April 10th.

CION Investment has a 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 tumble. Analysts expect CION Investment to earn $1.35 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 88.9%.

CION Investment Stock Down 0.2%

CION stock opened at $7.05 on Wednesday. The business has a 50 day moving average price of $7.88 and a two-hundred day moving average price of $9.01. The company has a market cap of $355.82 million, a price-to-earnings ratio of -18.07 and a beta of 1.13. CION Investment has a twelve month low of $6.50 and a twelve month high of $10.93.

CION Investment (NYSE:CION) last posted its quarterly earnings results on Thursday, March 12th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). The company had revenue of $53.79 million during the quarter, compared to the consensus estimate of $51.77 million. CION Investment had a negative net margin of 8.57% and a positive return on equity of 12.42%. On average, equities research analysts anticipate that CION Investment will post 1.78 EPS for the current fiscal year.

Institutional Trading of CION Investment

A number of hedge funds have recently made changes to their positions in the business. Alpine Global Management LLC lifted its position in shares of CION Investment by 5.6% in the fourth quarter. Alpine Global Management LLC now owns 93,836 shares of the company’s stock valued at $907,000 after buying an additional 5,000 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of CION Investment in the fourth quarter valued at approximately $193,000. Invesco Ltd. lifted its position in shares of CION Investment by 0.7% in the fourth quarter. Invesco Ltd. now owns 1,256,649 shares of the company’s stock valued at $12,152,000 after buying an additional 9,323 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of CION Investment in the fourth quarter valued at approximately $309,000. Finally, nVerses Capital LLC acquired a new stake in shares of CION Investment in the fourth quarter valued at approximately $337,000. 32.01% of the stock is owned by institutional investors and hedge funds.

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.