CION Investment Corporation (CION) to Issue Monthly Dividend of $0.10 on March 27th

CION Investment Corporation (NYSE:CION) announced a monthly dividend on Tuesday, January 6th. Investors of record on Friday, March 13th will be given 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 dividend 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. Equities 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 Stock Performance

CION Investment stock opened at $9.39 on Thursday. The company has a market cap of $488.86 million, a price-to-earnings ratio of 18.40 and a beta of 1.07. CION Investment has a 1 year low of $8.51 and a 1 year high of $12.71. 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 results on Thursday, November 6th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.39. The company had revenue of $78.71 million for the quarter, compared to analyst estimates of $52.41 million. CION Investment had a net margin of 10.59% and a return on equity of 12.02%. Sell-side analysts predict that CION Investment will post 1.78 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.