CION Investment Corporation (NYSE:CION) Shareholders to Get $0.10 Monthly Dividend

CION Investment Corporation (NYSE:CION) declared a monthly dividend on Monday, August 3rd. Stockholders of record on Friday, November 13th will be given a dividend of $0.10 per share on Friday, November 27th. This represents a $1.20 annualized dividend and a dividend yield of 18.9%. The ex-dividend date of this dividend is Friday, November 13th.

CION Investment has a 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 decline. Equities research analysts expect CION Investment to earn $1.00 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 120.0%.

CION Investment Stock Up 1.0%

CION stock opened at $6.36 on Wednesday. CION Investment has a twelve month low of $5.83 and a twelve month high of $10.40. The stock has a market capitalization of $312.91 million, a price-to-earnings ratio of 5.53 and a beta of 1.14. The firm’s fifty day simple moving average is $6.93 and its two-hundred day simple moving average is $7.16.

Institutional Investors Weigh In On CION Investment

Large investors have recently bought and sold shares of the company. Private Advisor Group LLC raised its position in CION Investment by 1,694.8% during the 3rd quarter. Private Advisor Group LLC now owns 1,127,559 shares of the company’s stock worth $7,915,000 after buying an additional 1,064,736 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of CION Investment by 27.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,236,397 shares of the company’s stock valued at $7,703,000 after acquiring an additional 268,242 shares during the last quarter. Callodine Capital Management LP increased its stake in shares of CION Investment by 8.9% in the first quarter. Callodine Capital Management LP now owns 612,388 shares of the company’s stock worth $4,189,000 after acquiring an additional 50,000 shares during the period. Kestra Advisory Services LLC increased its stake in shares of CION Investment by 4.6% in the first quarter. Kestra Advisory Services LLC now owns 299,079 shares of the company’s stock worth $2,046,000 after acquiring an additional 13,071 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of CION Investment by 4.2% in the first quarter. Renaissance Technologies LLC now owns 271,800 shares of the company’s stock worth $1,859,000 after acquiring an additional 11,000 shares during the period. Hedge funds and other institutional investors own 32.01% of the company’s stock.

About CION Investment

CION Investment Corporation (NYSE:CION) is a closed-end, externally managed business development company (BDC) that provides financing to privately owned, middle-market companies. The company primarily seeks to generate current income and, to a lesser extent, capital appreciation by investing in the debt and equity securities of eligible businesses. CION’s investment portfolio generally includes senior secured loans, subordinated debt, unitranche investments and, in select cases, equity or equity-related securities.