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

CION Investment Corporation (NYSE:CION) declared a monthly dividend on Monday, March 9th. Investors of record on Friday, June 12th will be given a dividend of 0.10 per share on Friday, June 26th. This represents a c) annualized dividend and a yield of 17.2%. The ex-dividend date is Friday, June 12th.

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. 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

CION Investment stock opened at $7.00 on Wednesday. The company has a market capitalization of $348.28 million, a PE ratio of -174.83 and a beta of 1.10. CION Investment has a one year low of $6.50 and a one year high of $10.93. The business has a 50 day simple moving average of $7.07 and a 200 day simple moving average of $8.28.

CION Investment (NYSE:CION) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). CION Investment had a positive return on equity of 11.96% and a negative net margin of 0.41%.The company had revenue of $49.54 million for the quarter, compared to analyst estimates of $49.12 million. Equities analysts anticipate that CION Investment will post 1.05 earnings per share for the current fiscal 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.