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

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

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 fall. Equities research 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 Stock Up 1.8%

Shares of CION stock opened at $7.00 on Wednesday. CION Investment has a 12-month low of $6.50 and a 12-month high of $10.93. The firm has a market capitalization of $348.28 million, a price-to-earnings ratio of -174.83 and a beta of 1.10. The firm has a fifty day moving average of $7.07 and a 200-day moving average of $8.28.

CION Investment (NYSE:CION) last announced its quarterly earnings results 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 negative net margin of 0.41% and a positive return on equity of 11.96%. The firm had revenue of $49.54 million during the quarter, compared to analyst estimates of $49.12 million. Research analysts expect that CION Investment will post 1.05 earnings per share 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.