CION Investment Co. (NYSE:CION – Get Free Report) declared a Variable dividend on Wednesday, June 12th, Zacks reports. Shareholders 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 payout ratio of 91.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.
CION Investment Stock Performance
NYSE CION opened at $12.05 on Thursday. The company has a market capitalization of $645.76 million, a price-to-earnings ratio of 4.96 and a beta of 1.21. The company’s 50-day simple moving average is $12.01 and its two-hundred day simple moving average is $11.40. CION Investment has a one year low of $9.65 and a one year high of $12.69.
Insider Transactions at CION Investment
In other news, insider Gregg A. Bresner acquired 2,000 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were purchased at an average price of $12.51 per share, with a total value of $25,020.00. Following the transaction, the insider now directly owns 52,099 shares in the company, valued at $651,758.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have bought a total of 4,110 shares of company stock valued at $49,955 in the last 90 days. Insiders own 0.05% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Wells Fargo & Company raised their target price on shares of CION Investment from $11.50 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 15th.
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.
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