CION Investment Corporation Announces the Amount of its Mid-Year Supplemental Distribution of $0.05 Per Share
CION Investment (NYSE: CION) has declared a mid-year supplemental distribution of $0.05 per share for the period ending June 30, 2024. This distribution will be payable on July 12, 2024, to shareholders of record as of June 28, 2024. This announcement brings the total distributions declared in the first half of 2024 to $0.75 per share. According to Michael A. Reisner, co-CEO of CION, the supplemental distribution is a result of the sustained performance of their conservatively positioned investment portfolio and reflects their success in executing their long-term strategy aimed at generating attractive returns for shareholders.
- CION declared a mid-year supplemental distribution of $0.05 per share.
- The distribution will be payable on July 12, 2024, to shareholders of record as of June 28, 2024.
- Total distributions for the first half of 2024 amount to $0.75 per share.
- The announcement indicates the company's sustained performance and strategic execution.
- CION's focus on generating attractive returns for shareholders.
- The supplemental distribution of $0.05 per share might be lower than some investors expected.
- No mention of revenue growth or profit figures in the announcement.
- The PR lacks specific details on the performance metrics driving the distribution.
- Potential concerns about sustainability of distributions if market conditions change.
Insights
CION Investment Corporation has announced a mid-year supplemental distribution of
From a financial perspective, CION's decision to distribute an additional
However, investors should also consider the sustainability of these dividends. While CION's current payout is attractive, it's essential to look at the company's future earnings potential and any potential risks that might affect its ability to maintain or grow these distributions. Factors such as market volatility, interest rate changes and the overall health of their investment portfolio could impact future payouts.
In summary, this distribution reflects positively on CION's current financial health and shareholder-centric approach, but a cautious investor will keep an eye on broader economic factors and future financial disclosures to gauge the sustainability.
Distributions Declared in the First Half of 2024 Total
Michael A. Reisner, co-CEO of CION stated, “We are pleased to announce our mid-year supplemental distribution, based on the sustained performance of our conservatively positioned investment portfolio. We remain focused on generating attractive returns for CION shareholders and believe our recently increased quarterly base distribution in addition to our supplemental distribution reflect continued success in executing on our long-term strategy.”
ABOUT CION INVESTMENT CORPORATION
CION Investment Corporation is a leading publicly listed business development company that had approximately
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the use of forward-looking terminology such as "may," "will," "should," "expect," "anticipate," "project," "target," "estimate," "intend," "continue," or "believe" or the negatives thereof or other variations thereon or comparable terminology. You should read statements that contain these words carefully because they discuss CION’s plans, strategies, prospects and expectations concerning its business, operating results, financial condition and other similar matters. These statements represent CION’s belief regarding future events that, by their nature, are uncertain and outside of CION’s control. There are likely to be events in the future, however, that CION is not able to predict accurately or control. Any forward-looking statement made by CION in this press release speaks only as of the date on which it is made. Factors or events that could cause CION’s actual results to differ, possibly materially from its expectations, include, but are not limited to, the risks, uncertainties and other factors CION identifies in the sections entitled "Risk Factors" and "Forward-Looking Statements" in filings CION makes with the SEC, and it is not possible for CION to predict or identify all of them. CION undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
OTHER INFORMATION
The information in this press release is summary information only and should be read in conjunction with CION’s Current Report on Form 8-K, which CION filed with the SEC on June 12, 2024, as well as CION’s other reports filed with the SEC. A copy of CION’s Current Report on Form 8-K and CION’s other reports filed with the SEC can be found on CION’s website at www.cionbdc.com and the SEC’s website at www.sec.gov.
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Media
Susan Armstrong
sarmstrong@cioninvestments.com
Investor Relations
Charlie Arestia
carestia@cioninvestments.com
(646) 253-8259
James Carbonara
Hayden IR
James@haydenir.com
(646)-755-7412
Source: CION Investment Corporation
FAQ
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What does CION's mid-year supplemental distribution indicate about its performance?
