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

CION Investment Co. (NYSE:CION) announced a Variable dividend on Wednesday, June 12th, Zacks reports. Investors of record on Friday, June 28th will be given a dividend of 0.05 per share on Friday, July 12th. This represents a yield of 12%. The ex-dividend date of this dividend is Friday, June 28th.

CION Investment has a dividend payout ratio of 91.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

CION Investment Trading Down 0.7 %

CION Investment stock opened at $12.13 on Wednesday. The firm has a market cap of $650.05 million, a PE ratio of 4.97 and a beta of 1.21. CION Investment has a 12 month low of $9.65 and a 12 month high of $12.69. The stock’s 50 day simple moving average is $12.01 and its two-hundred day simple moving average is $11.40.

CION Investment (NYSE:CION) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.60 earnings per share (EPS) for the quarter. CION Investment had a net margin of 51.16% and a return on equity of 12.53%. The firm had revenue of $73.55 million for the quarter.

Insider Buying and Selling

In other news, insider Gregg A. Bresner acquired 2,000 shares of CION Investment stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average cost of $12.51 per share, with a total value of $25,020.00. Following the purchase, the insider now owns 52,099 shares in the company, valued at $651,758.49. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have bought 4,110 shares of company stock worth $49,955. Insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

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

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.