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

CION Investment Co. (NYSE:CION - Get Free Report) declared a quarterly dividend on Monday, March 10th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 13.31%. The ex-dividend date is Friday, March 28th.

CION Investment has increased its dividend payment by an average of 78.2% per year over the last three years. CION Investment has a payout ratio of 3.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

NYSE:CION traded down $0.17 during mid-day trading on Tuesday, hitting $10.82. 637,709 shares of the company's stock traded hands, compared to its average volume of 233,537. The firm's 50 day simple moving average is $11.77 and its 200 day simple moving average is $11.73. 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 $576.29 million, a PE ratio of 7.36 and a beta of 1.11.

CION Investment (NYSE:CION - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). The firm had revenue of $87.91 million for the quarter, compared to analysts' expectations of $54.11 million. CION Investment had a return on equity of 11.49% and a net margin of 31.21%. On average, research analysts expect that CION Investment will post 1.78 earnings per share for the current fiscal year.

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Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company reiterated an "underweight" rating and set a $10.00 price target (down from $11.00) on shares of CION Investment in a report on Monday.

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.