CION Investment Corporation (NYSE:CION) Plans $0.10 Monthly Dividend

Key Points

• CION Investment plans to pay a monthly dividend of $0.10 per share on September 25 to shareholders of record September 11, implying a 16.5% annualized yield.
• The dividend appears covered by current earnings, with a 95.2% payout ratio, but analysts expect the payout ratio could rise to 127.7% next year if projected earnings reach $0.94 per share.
• CION reported quarterly EPS of $0.29, exceeding the $0.26 analyst consensus, while institutional investors—including Invesco and Ameriprise—recently increased their holdings.

CION Investment Corporation (NYSE:CION - Get Free Report) announced a monthly dividend on Monday, May 4th. Investors of record on Friday, September 11th will be paid a dividend of 0.10 per share on Friday, September 25th. This represents a c) annualized dividend and a yield of 16.5%. The ex-dividend date is Friday, September 11th.

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 decline. Equities analysts expect CION Investment to earn $0.94 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 127.7%.

CION Investment Price Performance

NYSE CION opened at $7.26 on Wednesday. The stock has a market capitalization of $357.46 million, a P/E ratio of 121.08 and a beta of 1.14. The firm's 50-day moving average is $6.79 and its two-hundred day moving average is $7.01. CION Investment has a 12 month low of $5.83 and a 12 month high of $10.40.

CION Investment (NYSE:CION - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.03. The business had revenue of $49.79 million during the quarter, compared to analysts' expectations of $49.78 million. CION Investment had a net margin of 1.17% and a return on equity of 11.95%. As a group, analysts anticipate that CION Investment will post 1.08 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP acquired a new stake in CION Investment during the 2nd quarter worth approximately $284,000. Invesco Ltd. grew its stake in shares of CION Investment by 33.6% in the second quarter. Invesco Ltd. now owns 1,343,185 shares of the company's stock worth $12,854,000 after acquiring an additional 338,121 shares in the last quarter. StoneX Group Inc. grew its stake in shares of CION Investment by 18.0% in the second quarter. StoneX Group Inc. now owns 22,031 shares of the company's stock worth $211,000 after acquiring an additional 3,365 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of CION Investment by 4.3% during the second quarter. Raymond James Financial Inc. now owns 182,218 shares of the company's stock worth $1,744,000 after acquiring an additional 7,532 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of CION Investment by 20.0% during the second quarter. Ameriprise Financial Inc. now owns 49,018 shares of the company's stock worth $469,000 after acquiring an additional 8,183 shares during the period. Institutional investors and hedge funds own 32.01% of the company's stock.

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.

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