CION Investment Co. (NYSE:CION) Announces Annual Dividend of $0.05

CION Investment Co. (NYSE:CION) announced an annual dividend on Monday, December 23rd,NASDAQ Dividends reports. Investors of record on Monday, December 30th will be given a dividend of 0.05 per share on Monday, January 27th. This represents a dividend yield of 0.43%. The ex-dividend date is Monday, December 30th.

CION Investment has a dividend payout ratio of 99.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect CION Investment to earn $1.35 per share next year, which means the company may not be able to cover its $1.40 annual dividend with an expected future payout ratio of 103.7%.

CION Investment Trading Up 0.3 %

CION Investment stock traded up $0.03 during mid-day trading on Tuesday, hitting $11.52. 105,872 shares of the company’s stock were exchanged, compared to its average volume of 237,048. CION Investment has a 1-year low of $10.52 and a 1-year high of $12.69. The stock has a 50 day moving average of $11.67 and a two-hundred day moving average of $11.93. The stock has a market cap of $613.85 million, a P/E ratio of 7.84 and a beta of 1.14.

Analysts Set New Price Targets

A number of research firms have recently commented on CION. Oppenheimer assumed coverage on shares of CION Investment in a research report on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 price target on the stock. Wells Fargo & Company cut their price objective on CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th.

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.