CION Investment Co. (NYSE:CION) Announces Quarterly Dividend of $0.36

CION Investment Co. (NYSE:CION) declared a quarterly dividend on Monday, March 10th, Wall Street Journal reports. Stockholders of record on Friday, March 28th will be paid a dividend of 0.36 per share on Friday, April 11th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.14%. The ex-dividend date of this dividend is Friday, March 28th.

CION Investment has raised its dividend payment by an average of 78.2% annually over the last three years. CION Investment has a payout ratio of 113.4% meaning 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 Up 1.3 %

Shares of NYSE CION opened at $10.96 on Wednesday. The company has a market capitalization of $581.18 million, a PE ratio of 7.46 and a beta of 1.11. The firm has a fifty day simple moving average of $11.75 and a 200 day simple moving average of $11.68. CION Investment has a twelve month low of $10.64 and a twelve month high of $12.71.

CION Investment (NYSE:CION) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). CION Investment had a net margin of 31.21% and a return on equity of 11.49%. The business had revenue of $87.91 million during the quarter, compared to analyst estimates of $54.11 million. As a group, equities analysts expect that CION Investment will post 1.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company reaffirmed an “underweight” rating and set a $10.00 price objective (down previously from $11.00) on shares of CION Investment in a research report on Monday, March 17th.

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.