CION Investment Corporation (NYSE:CION) Declares $0.36 Quarterly Dividend

CION Investment Corporation (NYSE:CION) declared a quarterly dividend on Monday, November 3rd. Investors of record on Monday, December 1st will be paid a dividend of 0.36 per share on Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 14.1%. The ex-dividend date is Monday, December 1st.

CION Investment has a dividend payout ratio of 114.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect CION Investment to earn $1.35 per share next year, which means the company may not be able to cover its $1.44 annual dividend with an expected future payout ratio of 106.7%.

CION Investment Stock Up 1.8%

NYSE:CION opened at $10.24 on Friday. CION Investment has a 52 week low of $8.51 and a 52 week high of $12.71. The stock’s 50-day moving average price is $9.57 and its 200-day moving average price is $9.77. The stock has a market capitalization of $533.37 million, a PE ratio of -53.89 and a beta of 1.08.

CION Investment (NYSE:CION) last released its earnings results on Thursday, November 6th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.39. The business had revenue of $78.71 million during the quarter, compared to analysts’ expectations of $52.41 million. CION Investment had a negative net margin of 4.57% and a positive return on equity of 9.63%. Sell-side analysts expect that CION Investment will post 1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CION has been the topic of several research reports. Wells Fargo & Company restated an “underweight” rating and issued a $8.50 target price (down previously from $9.00) on shares of CION Investment in a research report on Tuesday, August 12th. Wall Street Zen upgraded CION Investment from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 22nd. Zacks Research raised shares of CION Investment from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of CION Investment in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.50.

CION Investment Company Profile

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.