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

CION Investment Corporation (NYSE:CION) announced a monthly dividend on Monday, August 3rd. Stockholders of record on Friday, October 16th will be paid a dividend of $0.10 per share on Friday, October 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 17.7%. The ex-dividend date of this dividend is Friday, October 16th.

CION Investment has a 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 tumble. Equities analysts expect CION Investment to earn $0.94 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 127.7%.

CION Investment Price Performance

Shares of CION Investment stock opened at $6.79 on Wednesday. The stock’s 50 day simple moving average is $7.21 and its 200-day simple moving average is $6.91. The stock has a market cap of $334.31 million, a P/E ratio of 113.25 and a beta of 1.15. CION Investment has a 1-year low of $5.83 and a 1-year high of $10.40.

CION Investment (NYSE:CION) last issued its earnings results on Wednesday, August 5th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. CION Investment had a return on equity of 11.95% and a net margin of 1.17%. The company had revenue of $49.79 million during the quarter, compared to analysts’ expectations of $49.78 million. As a group, research analysts expect that CION Investment will post 1.08 EPS for the current fiscal year.

Institutional Investors Weigh In On CION Investment

Several large investors have recently modified their holdings of the company. Engineers Gate Manager LP lifted its position in CION Investment by 170.2% during the 2nd quarter. Engineers Gate Manager LP now owns 37,935 shares of the company’s stock worth $236,000 after acquiring an additional 23,897 shares during the period. RFG Advisory LLC purchased a new stake in shares of CION Investment during the 2nd quarter worth $64,000. Squarepoint Ops LLC acquired a new position in shares of CION Investment during the 2nd quarter worth $128,000. Hopwood Nicholas Hunter acquired a new position in shares of CION Investment during the 2nd quarter worth $444,000. Finally, Van ECK Associates Corp increased 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 purchasing an additional 268,242 shares in the last quarter. 32.01% of the stock is owned by institutional investors and hedge funds.

CION Investment Company Profile

CION Investment Corporation (NYSE: CION) is an externally managed business development company that invests primarily in privately held, middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in debt and equity securities.

CION’s portfolio is focused primarily on senior secured loans, including first-lien and second-lien loans, as well as other debt investments. It may also invest in subordinated debt, unsecured debt and equity interests when appropriate.