CION Investment Co. (NYSE:CION) Declares Quarterly Dividend of $0.36

CION Investment Co. (NYSE:CION) announced a quarterly dividend on Monday, November 4th,Zacks Dividends reports. Stockholders of record on Monday, December 2nd will be given a dividend of 0.36 per share on Monday, December 16th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.26%. The ex-dividend date is Monday, December 2nd.

CION Investment has a payout ratio of 99.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect CION Investment to earn $1.35 per share next year, which means the company may not be able to cover its $1.40 annual dividend with an expected future payout ratio of 103.7%.

CION Investment Stock Up 0.2 %

CION stock opened at $11.75 on Friday. The company has a market cap of $626.16 million, a P/E ratio of 7.99 and a beta of 1.18. CION Investment has a twelve month low of $10.52 and a twelve month high of $12.69. The business has a fifty day moving average of $11.75 and a 200-day moving average of $12.02.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CION shares. Wells Fargo & Company dropped their target price on CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Oppenheimer started coverage on CION Investment in a research note on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price objective for the company.

About CION Investment

CION Investment Corporation is a business development company. It specializes in investments in senior secured loans, including unitranche loans, First Lien, second lien loans, long-term subordinated loans, and mezzanine loans; equity interests such as warrants or options; and corporate bonds; and other debt securities in middle-market companies.