CION Investment Co. (CION) to Issue Quarterly Dividend of $0.36 on September 17th

CION Investment Co. (NYSE:CION) declared a quarterly dividend on Monday, August 5th, Zacks reports. Investors of record on Tuesday, September 3rd will be given a dividend of 0.36 per share on Tuesday, September 17th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.71%. The ex-dividend date is Tuesday, September 3rd.

CION Investment has a payout ratio of 92.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

CION Investment Trading Up 1.2 %

Shares of NYSE CION traded up $0.15 during midday trading on Friday, reaching $12.30. 194,118 shares of the company were exchanged, compared to its average volume of 183,471. CION Investment has a 1 year low of $9.65 and a 1 year high of $12.69. The stock has a fifty day simple moving average of $12.18 and a 200 day simple moving average of $11.73. The stock has a market cap of $657.44 million, a P/E ratio of 5.04 and a beta of 1.19.

CION Investment (NYSE:CION) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter. The firm had revenue of $61.36 million for the quarter. CION Investment had a return on equity of 12.39% and a net margin of 48.50%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lifted their price target on shares of CION Investment from $11.50 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 15th.

About CION Investment

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.