CION Investment Corporation Announces 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) dividend on an annualized basis and a yield of 16.5%. The ex-dividend date of this dividend is Friday, December 11th.

CION Investment has a payout ratio of 95.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities 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 Trading Up 16.5%

Shares of CION traded up $1.02 during midday trading on Thursday, hitting $7.25. 1,922,422 shares of the company’s stock traded hands, compared to its average volume of 575,602. The firm’s fifty day moving average is $6.43 and its 200-day moving average is $7.28. CION Investment has a 1 year low of $5.83 and a 1 year high of $10.93. The stock has a market capitalization of $361.22 million, a price-to-earnings ratio of -181.33 and a beta of 1.11.

CION Investment (NYSE:CION) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.26 by $0.36. The firm had revenue of $49.79 million during the quarter, compared to the consensus estimate of $49.78 million. CION Investment had a positive return on equity of 11.96% and a negative net margin of 0.41%. On average, equities research analysts anticipate that CION Investment will post 1.05 EPS 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.