CION Investment Corporation (NYSE:CION – Get Free Report) announced a monthly dividend on Monday, May 4th. Shareholders of record on Friday, July 17th will be paid a dividend of 0.10 per share on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 18.6%. The ex-dividend date is Friday, July 17th.
CION Investment has a dividend 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 tumble. 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 Price Performance
Shares of CION Investment stock opened at $6.45 on Wednesday. The stock has a market capitalization of $321.15 million, a price-to-earnings ratio of -161.21 and a beta of 1.10. The firm’s fifty day simple moving average is $6.66 and its 200-day simple moving average is $7.68. CION Investment has a 12 month low of $5.97 and a 12 month high of $10.93.
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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