CION Investment Corporation Declares Distributions
December 22, 2020 | Luke Schmidt | Blue Vault
On December 17, 2020, CION Investment Corporation (“CION”) declared its regular monthly cash distribution for January 2021 and a special cash distribution for the year ending December 31, 2020. Shareholders who previously elected to receive distributions in additional shares of CION common stock pursuant to the distribution reinvestment plan will be issued additional shares for both the January distribution as well as the special distribution.
The regular monthly cash distribution of $0.04413 per share will be paid on January 27, 2021, to shareholders of record as of January 26, 2021. This monthly distribution represents annualized distribution rates of 5.63% (based on the last public offering price of $9.40 per share) and 6.95% (based on the September 30, 2020 NAV of $7.62 per share).
The one-time special distribution is in addition to CION’s regular monthly cash distributions that will be paid on December 29, 2020. The special distribution of $0.1518 per share will be paid on December 22, 2020, to shareholders of record as of December 21, 2020.
CION previously suspended the payment of distributions beginning with the month ended April 30, 2020. The Company resumed distribution payments beginning with the August monthly distribution. As of September 30, 2020, CION reported approximately $1.6 billion in total assets, with investments totaling approximately $1.57 billion. CION raised approximately $1.3 billion in its public offering, which began in July of 2012 and ended in January of 2019.
Source: SEC, CION, Blue Vault
