CION Investment Corporation (NYSE:CION) Declares Monthly Dividend of $0.10

CION Investment Corporation (NYSE:CION) declared a monthly dividend on Tuesday, January 6th. Investors of record on Friday, February 13th will be given a dividend of 0.10 per share on Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 12.8%. The ex-dividend date is Friday, February 13th.

CION Investment has a dividend payout ratio of 114.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect CION Investment to earn $1.35 per share next year, which means the company may not be able to cover its $1.44 annual dividend with an expected future payout ratio of 106.7%.

CION Investment Trading Down 3.3%

CION stock traded down $0.33 during trading on Wednesday, hitting $9.39. The company had a trading volume of 562,773 shares, compared to its average volume of 412,118. The stock has a market cap of $488.86 million, a PE ratio of 18.40 and a beta of 1.07. The business has a 50-day moving average of $9.76 and a 200-day moving average of $9.85. CION Investment has a one year low of $8.51 and a one year high of $12.71.

CION Investment (NYSE:CION) last released its earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.39. The business had revenue of $78.71 million for the quarter, compared to analyst estimates of $52.41 million. CION Investment had a net margin of 10.59% and a return on equity of 12.02%. Research analysts forecast that CION Investment will post 1.78 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CION shares. Zacks Research upgraded CION Investment from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. Weiss Ratings reissued a “hold (c)” rating on shares of CION Investment in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded shares of CION Investment from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $8.50.

CION Investment Company Profile

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.