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

CION Investment Corporation (NYSE:CION) announced a monthly dividend on Tuesday, January 6th. Investors of record on Friday, March 13th will be paid a dividend of 0.10 per share on Friday, March 27th. This represents a c) annualized dividend and a dividend yield of 12.8%. The ex-dividend date of this dividend is Friday, March 13th.

CION Investment has a payout ratio of 114.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect CION Investment to earn $1.35 per share next year, which means the company may not be able to cover its $1.44 annual dividend with an expected future payout ratio of 106.7%.

CION Investment Trading Down 3.3%

CION traded down $0.33 on Wednesday, hitting $9.39. 562,773 shares of the company’s stock were exchanged, compared to its average volume of 412,118. CION Investment has a fifty-two week low of $8.51 and a fifty-two week high of $12.71. The stock has a market cap of $488.86 million, a price-to-earnings ratio of 18.40 and a beta of 1.07. The firm has a 50-day moving average price of $9.76 and a 200-day moving average price of $9.85.

CION Investment (NYSE:CION) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.39. The company had revenue of $78.71 million during the quarter, compared to analysts’ expectations of $52.41 million. CION Investment had a net margin of 10.59% and a return on equity of 12.02%. On average, equities analysts predict that CION Investment will post 1.78 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its holdings in shares of CION Investment by 4.2% in the 3rd quarter. Van ECK Associates Corp now owns 1,359,023 shares of the company’s stock worth $12,883,000 after acquiring an additional 54,317 shares during the last quarter. Invesco Ltd. increased its holdings in CION Investment by 33.6% in the 2nd quarter. Invesco Ltd. now owns 1,343,185 shares of the company’s stock valued at $12,854,000 after purchasing an additional 338,121 shares during the last quarter. North Ground Capital raised its position in CION Investment by 100.6% in the third quarter. North Ground Capital now owns 1,002,778 shares of the company’s stock valued at $9,506,000 after purchasing an additional 502,778 shares during the period. Private Advisor Group LLC lifted its stake in CION Investment by 4.6% during the third quarter. Private Advisor Group LLC now owns 708,922 shares of the company’s stock worth $6,721,000 after purchasing an additional 31,100 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of CION Investment by 4.0% during the third quarter. UBS Group AG now owns 574,045 shares of the company’s stock worth $5,442,000 after buying an additional 22,140 shares during the period. Hedge funds and other institutional investors own 32.01% of the company’s stock.

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.