Welcome to our dedicated page for CION Investment Corporation news (Ticker: CION), a resource for investors and traders seeking the latest updates and insights on CION Investment Corporation stock.
CION Investment Corporation (symbol: CION) is an externally managed, non-diversified, closed-end management investment company that has chosen to be regulated as a business development company. Headquartered in New York, with additional offices in Boston, London, and Singapore, CION Investment Corporation specializes in alternative investment products aimed at both individual and institutional investors.
With a rich history spanning over 25 years, CION Investment Corporation and its affiliates have managed investments for more than 63,000 investors, making over $4.0 billion in total investments. CION’s core portfolio includes a variety of senior secured debt instruments such as first lien loans, second lien loans, and unitranche loans. In addition, the company invests in collateralized securities, structured products, unsecured debt, and equity, primarily targeting private and thinly-traded U.S. middle-market companies.
Among its recent achievements, CION Investment Corporation has continued to expand its portfolio and solidify partnerships that contribute to its growth and stability. The company remains committed to providing innovative and reliable alternative investment solutions through its publicly registered programs, private funds, and separately managed accounts.
To stay updated with the latest developments, performance metrics, and news about CION Investment Corporation, interested parties are encouraged to follow the company’s announcements and press releases.
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 Investment reported strong financial results for the first quarter of 2024, including record quarterly net investment income and an increased base distribution for the second quarter. The company's net investment income and earnings per share were $0.60 and $0.12, respectively. The net asset value per share decreased slightly to $16.05. The company's total investments at fair value amounted to $1.74 billion across 109 portfolio companies. During the quarter, the company funded new investment commitments of $107 million and had sales and repayments totaling $207 million. Investments on non-accrual status decreased compared to the previous quarter. The company also repurchased shares of its common stock. CION announced a second quarter 2024 base distribution of $0.36 per share, representing a 5.9% increase from the first quarter distribution.
CION Ares Diversified Credit Fund, a joint venture between CION Investments and Ares Management , has surpassed $5 billion in total assets under management. The Fund offers investors direct access to alternative credit opportunities, providing income, stability, and lower portfolio volatility through diversification. CADC invests in a mix of illiquid and liquid credit investments, aiming for superior risk-adjusted returns. The Fund is distributed through various channels, catering to individual investors seeking alternative investment options.
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