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

CION Investment Co. (NYSE:CION) declared an annual dividend on Monday, December 23rd,NASDAQ Dividends reports. Stockholders of record on Monday, December 30th will be paid 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 payout ratio of 3.5% 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

Shares of CION opened at $11.39 on Friday. CION Investment has a 52 week low of $10.52 and a 52 week high of $12.69. The company has a market capitalization of $606.93 million, a PE ratio of 7.75 and a beta of 1.14. The company’s 50 day moving average price is $11.63 and its 200 day moving average price is $11.91.

Analyst Upgrades and Downgrades

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