CION Declares First Quarter 2020 Distributions
December 19, 2019 | Luke Schmidt | Blue Vault
On December 18, 2019, CION Investment Corporation (“CION”) declared regular weekly cash distributions for January 2020 through March 2020. The regular weekly cash distributions of $0.014067 per share will be paid monthly to shareholders of record. This weekly cash distribution rate equates to an annual distribution rate of 7.78% based on their last public offering price of $9.40. Based on their published NAV per share of $8.34 as of September 30, 2019, the annual distribution rate equals 8.77%.
CION is a middle-market loan fund that is structured as a publicly registered, non-traded business development company. CION offers individual investors the opportunity to invest primarily in the senior-secured debt of private U.S. middle-market companies. During its public offering, CION raised cumulative proceeds of approximately $1.3 billion. As of September 30, 2019, the Company reported total assets of approximately $1.8 billion.
Source: SEC, Blue Vault
