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

CION Investment Corporation (NYSE:CION) announced a monthly dividend on Tuesday, January 6th. Stockholders of record on Friday, January 16th will be given a dividend of 0.10 per share on Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 12.8%. The ex-dividend date of this dividend is Friday, January 16th.

CION Investment has a payout ratio of 114.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Down 3.3%

NYSE:CION traded down $0.33 during midday trading on Wednesday, reaching $9.39. The stock had a trading volume of 562,773 shares, compared to its average volume of 412,118. The stock has a market cap of $488.86 million, a P/E ratio of 18.40 and a beta of 1.07. The firm has a fifty day simple moving average of $9.76 and a two-hundred day simple moving average of $9.85. CION Investment has a 12-month low of $8.51 and a 12-month high of $12.71.

CION Investment (NYSE:CION) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.39. The firm 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, sell-side analysts anticipate that CION Investment will post 1.78 earnings per share for the current fiscal year.

CION Investment Company Profile

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.