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

CION Investment Corporation (NYSE:CION) declared a monthly dividend on Monday, May 4th. Shareholders of record on Friday, July 17th will be given a dividend of 0.10 per share on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 18.6%. The ex-dividend date is Friday, July 17th.

CION Investment has a 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 0.6%

CION opened at $6.45 on Wednesday. CION Investment has a 12-month low of $5.97 and a 12-month high of $10.93. The firm has a 50 day moving average of $6.66 and a two-hundred day moving average of $7.68. The firm has a market capitalization of $321.15 million, a PE ratio of -161.21 and a beta of 1.10.

CION Investment (NYSE:CION) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). The business had revenue of $49.54 million during 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 predict that CION Investment will post 1.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CION shares. Zacks Research upgraded shares of CION Investment from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Wells Fargo & Company cut their price target on CION Investment from $7.00 to $6.50 and set an “underweight” rating on the stock in a research report on Monday, May 11th. Finally, Weiss Ratings lowered CION Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.50.

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.