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

CION Investment Corporation (NYSE:CION) announced a monthly dividend on Monday, May 4th. Shareholders of record on Friday, August 14th will be paid a dividend of 0.10 per share on Friday, August 28th. This represents a c) annualized dividend and a yield of 16.0%. The ex-dividend date of this dividend 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 tumble. 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 0.2%

CION stock opened at $7.50 on Wednesday. CION Investment has a 52 week low of $5.83 and a 52 week high of $10.93. The stock has a market capitalization of $368.75 million, a PE ratio of 124.92 and a beta of 1.11. The firm has a 50 day moving average of $6.48 and a 200 day moving average of $7.23.

Analyst Upgrades and Downgrades

CION has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on CION Investment from $7.00 to $6.50 and set an “underweight” rating for the company in a report on Monday, May 11th. Weiss Ratings lowered shares of CION Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, July 2nd. Finally, Zacks Research lowered shares of CION Investment from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Sell” and an average price target of $6.50.

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.