CION Investment Corporation (CION) To Go Ex-Dividend on May 15th

CION Investment Corporation (NYSE:CION) announced a monthly dividend on Monday, March 9th. Shareholders of record on Friday, May 15th will be given a dividend of 0.10 per share on Friday, May 29th. This represents a c) annualized dividend and a yield of 18.0%. The ex-dividend date of this dividend is Friday, May 15th.

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 fall. Research analysts expect CION Investment to earn $1.04 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 115.4%.

CION Investment Stock Down 2.0%

Shares of NYSE:CION traded down $0.14 during trading on Wednesday, hitting $6.66. 176,628 shares of the stock traded hands, compared to its average volume of 590,283. The company has a fifty day moving average price of $7.27 and a two-hundred day moving average price of $8.68. CION Investment has a 52-week low of $6.50 and a 52-week high of $10.93. The company has a market cap of $331.35 million, a price-to-earnings ratio of -165.83 and a beta of 1.16.

CION Investment (NYSE:CION) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The firm had revenue of $49.54 million for the quarter, compared to analysts’ expectations of $49.12 million. CION Investment had a positive return on equity of 11.96% and a negative net margin of 0.41%. On average, equities research analysts predict that CION Investment will post 1.03 EPS for the current fiscal year.

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.