CION Investment Corporation (CION) To Go Ex-Dividend on October 16th

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

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. Equities research 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 Performance

NYSE:CION opened at $6.79 on Wednesday. The company has a market capitalization of $334.31 million, a price-to-earnings ratio of 113.25 and a beta of 1.15. CION Investment has a one year low of $5.83 and a one year high of $10.40. The stock has a 50-day simple moving average of $7.21 and a 200 day simple moving average of $6.91.

CION Investment (NYSE:CION) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. CION Investment had a net margin of 1.17% and a return on equity of 11.95%. The business had revenue of $49.79 million during the quarter, compared to analyst estimates of $49.78 million. On average, equities research analysts forecast that CION Investment will post 1.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CION. Zacks Research lowered shares of CION Investment from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of CION Investment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $6.50.

About CION Investment

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.