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

CION Investment Corporation (NYSE:CION) declared 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 dividend on an annualized basis and a yield of 17.7%. The ex-dividend date is Friday, October 16th.

CION Investment has a 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 tumble. 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 Trading Down 1.2%

NYSE:CION opened at $6.79 on Wednesday. CION Investment has a 1 year low of $5.83 and a 1 year high of $10.40. The stock has a 50-day moving average price of $7.21 and a two-hundred day moving average price of $6.91. The stock has a market cap of $334.31 million, a price-to-earnings ratio of 4.22 and a beta of 1.15.

CION Investment (NYSE:CION) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $49.79 million for the quarter, compared to analyst estimates of $49.78 million. CION Investment had a return on equity of 11.95% and a net margin of 1.17%. Sell-side analysts forecast that CION Investment will post 1.08 earnings per share for the current year.

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.