CION Investment Corporation (CION) to Issue Monthly Dividend of $0.10 on June 26th

CION Investment Corporation (NYSE:CION) declared a monthly dividend on Monday, March 9th. Shareholders of record on Friday, June 12th will be given a dividend of 0.10 per share on Friday, June 26th. This represents a c) dividend on an annualized basis and a yield of 17.2%. The ex-dividend date of this dividend is Friday, June 12th.

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 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 Price Performance

NYSE:CION opened at $7.00 on Wednesday. The company has a market capitalization of $348.28 million, a P/E ratio of -174.83 and a beta of 1.10. The business has a fifty day simple moving average of $7.07 and a two-hundred day simple moving average of $8.28. CION Investment has a 1 year low of $6.50 and a 1 year high of $10.93.

CION Investment (NYSE:CION) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The business had revenue of $49.54 million for the quarter, compared to analysts’ expectations of $49.12 million. CION Investment had a negative net margin of 0.41% and a positive return on equity of 11.96%. As a group, analysts anticipate that CION Investment will post 1.05 earnings per share for the current year.

Institutional Trading of CION Investment

Several large investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its position in CION Investment by 27.7% during the 1st quarter. Royal Bank of Canada now owns 33,645 shares of the company’s stock valued at $230,000 after acquiring an additional 7,291 shares during the period. Empowered Funds LLC purchased a new position in CION Investment during the 1st quarter valued at about $87,000. Callodine Capital Management LP lifted its position in CION Investment by 8.9% during the 1st quarter. Callodine Capital Management LP now owns 612,388 shares of the company’s stock valued at $4,189,000 after acquiring an additional 50,000 shares during the period. Punch & Associates Investment Management Inc. lifted its position in CION Investment by 42.3% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 14,845 shares of the company’s stock valued at $102,000 after acquiring an additional 4,410 shares during the period. Finally, Entropy Technologies LP purchased a new position in CION Investment during the 1st quarter valued at about $106,000. 32.01% of the stock is owned by institutional investors.

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.