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

CION Investment Co. (NYSE:CION) declared a quarterly dividend on Friday, March 14th, Wall Street Journal reports. Stockholders of record on Friday, March 28th will be given 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 12.66%. The ex-dividend date is Friday, March 28th.

CION Investment has increased its dividend by an average of 78.2% annually over the last three years. CION Investment has a payout ratio of 3.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CION Investment to earn $1.35 per share next year, which means the company should continue to be able to cover its $0.05 annual dividend with an expected future payout ratio of 3.7%.

CION Investment Trading Down 1.3 %

NYSE CION traded down $0.15 during mid-day trading on Friday, reaching $11.37. 676,291 shares of the company’s stock traded hands, compared to its average volume of 269,494. CION Investment has a 1-year low of $10.52 and a 1-year high of $12.71. The company has a market cap of $606.07 million, a price-to-earnings ratio of 7.74 and a beta of 1.11. The company has a fifty day simple moving average of $11.78 and a 200-day simple moving average of $11.75.

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

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.