CION Investment Corporation (NYSE:CION) Announces $0.10 Monthly Dividend

CION Investment Corporation (NYSE:CION) declared a monthly dividend on Monday, May 4th. Stockholders of record on Friday, August 14th will be paid a dividend of 0.10 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a dividend yield of 16.0%. The ex-dividend date is Friday, August 14th.

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. 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 Trading Up 0.2%

CION Investment stock opened at $7.50 on Wednesday. The firm has a market capitalization of $368.75 million, a PE ratio of 124.92 and a beta of 1.11. CION Investment has a 12-month low of $5.83 and a 12-month high of $10.93. The firm has a 50-day moving average price of $6.48 and a 200-day moving average price of $7.23.

Institutional Investors Weigh In On CION Investment

A number of large investors have recently modified their holdings of the business. Diversify Advisory Services LLC acquired a new position in shares of CION Investment during the second quarter valued at about $768,000. BlackRock Inc. acquired a new stake in CION Investment in the 2nd quarter worth approximately $1,218,000. OneDigital Investment Advisors LLC purchased a new stake in CION Investment during the 2nd quarter worth approximately $73,000. Trivium Point Advisory LLC purchased a new stake in CION Investment during the 2nd quarter worth approximately $175,000. Finally, Global Retirement Partners LLC acquired a new position in CION Investment during the 2nd quarter valued at approximately $87,000. Hedge funds and other institutional investors own 32.01% of the company’s stock.

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.