CION Investment Corporation (NYSE:CION – Get Free Report) announced a monthly dividend on Monday, May 4th. Shareholders of record on Friday, September 11th will be paid a dividend of 0.10 per share on Friday, September 25th. This represents a c) dividend on an annualized basis and a yield of 16.5%. The ex-dividend date of this dividend is Friday, September 11th.
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 decline. 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 Stock Down 1.0%
Shares of CION Investment stock opened at $7.26 on Wednesday. The firm has a market cap of $357.46 million, a price-to-earnings ratio of 121.08 and a beta of 1.14. CION Investment has a twelve month low of $5.83 and a twelve month high of $10.40. The business has a 50-day moving average price of $6.79 and a 200-day moving average price of $7.01.
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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