CION Investment Corporation (CION) to Issue Monthly Dividend of $0.10 on July 31st

CION Investment Corporation (NYSE:CION) declared a monthly dividend on Monday, May 4th. Stockholders 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 dividend yield of 18.6%. The ex-dividend date is Friday, July 17th.

CION Investment has a 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 fall. Equities research 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 Stock Up 0.6%

CION stock opened at $6.45 on Wednesday. CION Investment has a twelve month low of $5.97 and a twelve month high of $10.93. The company has a market cap of $321.15 million, a PE ratio of -161.21 and a beta of 1.10. The business’s 50-day simple moving average is $6.66 and its 200 day simple moving average is $7.68.

CION Investment (NYSE:CION) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). CION Investment had a negative net margin of 0.41% and a positive return on equity of 11.96%. The firm had revenue of $49.54 million during the quarter, compared to analyst estimates of $49.12 million. On average, equities research analysts anticipate that CION Investment will post 1.05 EPS for the current year.

Institutional Investors Weigh In On CION Investment

A number of hedge funds have recently made changes to their positions in CION. Kestra Private Wealth Services LLC grew its holdings in CION Investment by 5.0% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 23,324 shares of the company’s stock worth $221,000 after acquiring an additional 1,111 shares during the period. Ameriprise Financial Inc. increased its stake in shares of CION Investment by 2.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 50,424 shares of the company’s stock valued at $478,000 after acquiring an additional 1,406 shares during the last quarter. Orion Porfolio Solutions LLC grew its holdings in CION Investment by 8.1% during the third quarter. Orion Porfolio Solutions LLC now owns 19,269 shares of the company’s stock valued at $183,000 after purchasing an additional 1,438 shares during the period. Great Valley Advisor Group Inc. grew its holdings in shares of CION Investment by 7.5% in the 4th quarter. Great Valley Advisor Group Inc. now owns 21,627 shares of the company’s stock valued at $209,000 after buying an additional 1,512 shares during the period. Finally, Strategic Blueprint LLC raised its stake in CION Investment by 3.9% during the 4th quarter. Strategic Blueprint LLC now owns 40,797 shares of the company’s stock worth $395,000 after buying an additional 1,514 shares during the period. Institutional investors and hedge funds own 32.01% of the company’s stock.

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.