CION Investment Corporation (NYSE:CION – Get Free Report) declared a monthly dividend on Monday, March 9th. Investors of record on Friday, April 10th will be given a dividend of 0.10 per share on Friday, April 24th. This represents a c) annualized dividend and a yield of 17.0%. The ex-dividend date of this dividend is Friday, April 10th.
CION Investment has a dividend 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. Analysts expect CION Investment to earn $1.35 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 88.9%.
CION Investment Trading Down 0.2%
CION opened at $7.05 on Wednesday. The company has a 50 day moving average of $7.88 and a 200 day moving average of $9.01. The company has a market cap of $355.82 million, a PE ratio of -18.07 and a beta of 1.13. CION Investment has a 12 month low of $6.50 and a 12 month high of $10.93.
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.
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