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

CION Investment Corporation (NYSE:CION – Get Free Report) announced a monthly dividend on Monday, August 3rd. Shareholders 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 of this dividend 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. 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%.

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CION Investment Stock Down 1.2%

Shares of NYSE CION opened at $6.79 on Wednesday. The business has a 50-day simple moving average of $7.21 and a two-hundred day simple moving average of $6.91. CION Investment has a 52 week low of $5.83 and a 52 week high of $10.40. The company has a market cap of $334.31 million, a P/E ratio of 113.25 and a beta of 1.15.

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

CION Investment Company Profile

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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.

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