CION Investment Corporation to Issue Quarterly Dividend of $0.36 (NYSE:CION)

Key Points

• CION Investment Corporation announced a quarterly dividend of $0.36 per share, set to be paid on September 16th, with an ex-dividend date of September 2nd, resulting in an annualized yield of 13.4%.
• The company has a concerning payout ratio of 114.3%, indicating it is not currently covering its dividend from earnings and may struggle to do so in the future.
• CION Investment's stock traded at $10.72, with a 52-week range of $8.51 to $12.71, reflecting recent trading activity above its moving averages.

CION Investment Corporation (NYSE:CION - Get Free Report) declared a quarterly dividend on Friday, August 8th, Wall Street Journal reports. Shareholders of record on Tuesday, September 2nd will be given a dividend of 0.36 per share on Tuesday, September 16th. This represents a c) annualized dividend and a yield of 13.4%. The ex-dividend date is Tuesday, September 2nd.

CION Investment has a payout ratio of 114.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Performance

NYSE CION traded up $0.39 on Friday, hitting $10.72. 396,182 shares of the stock were exchanged, compared to its average volume of 326,987. The stock has a fifty day moving average price of $9.59 and a two-hundred day moving average price of $10.33. The firm has a market capitalization of $564.57 million, a P/E ratio of -36.95 and a beta of 1.11. CION Investment has a 52-week low of $8.51 and a 52-week high of $12.71.

CION Investment (NYSE:CION - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). The company had revenue of $52.24 million for the quarter, compared to analysts' expectations of $53.34 million. CION Investment had a negative net margin of 6.49% and a positive return on equity of 10.07%. Sell-side analysts expect that CION Investment will post 1.78 earnings per share for the current fiscal year.

Institutional Trading of CION Investment

A number of large investors have recently made changes to their positions in the stock. AE Wealth Management LLC boosted its stake in shares of CION Investment by 3.3% during the second quarter. AE Wealth Management LLC now owns 33,123 shares of the company's stock valued at $317,000 after purchasing an additional 1,044 shares during the period. Coppell Advisory Solutions LLC lifted its stake in CION Investment by 11.1% in the fourth quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company's stock worth $123,000 after acquiring an additional 1,093 shares during the period. TT Capital Management LLC lifted its stake in CION Investment by 4.4% in the first quarter. TT Capital Management LLC now owns 30,998 shares of the company's stock worth $321,000 after acquiring an additional 1,300 shares during the period. Belpointe Asset Management LLC lifted its stake in CION Investment by 10.3% in the second quarter. Belpointe Asset Management LLC now owns 15,946 shares of the company's stock worth $153,000 after acquiring an additional 1,490 shares during the period. Finally, Golden State Wealth Management LLC lifted its stake in CION Investment by 18.9% in the first quarter. Golden State Wealth Management LLC now owns 10,031 shares of the company's stock worth $104,000 after acquiring an additional 1,597 shares during the period. 32.01% of the stock is owned by hedge funds and other institutional investors.

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.

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