Cion Investment Corporation (NYSE: CION) has declared a special distribution for the year ending December 31, 2024, in the amount of $0.05 per share. This results in total distributions declared in 2024 of $1.52 per share. The special distribution represents a portion of the company’s investment company taxable income generated throughout the year.
Michael A. Reisner, Co-CEO of Cion, expressed pleasure in announcing the year-end special dividend for 2024, driven by the consistent income generation of the portfolio. Looking ahead, he believes that the company's first-lien focus, flexible balance sheet, and disciplined capital deployment position Cion well for attractive risk-adjusted returns for shareholders.
As of September 30, 2024, Cion had approximately $1.9 billion in total assets. The company seeks to generate current income and, to a lesser extent, capital appreciation for investors by focusing primarily on senior secured loans to U.S. middle-market companies. Cion is advised by Cion Investment Management, LLC, a registered investment adviser and an affiliate of Cion. As a result of these announcements, the company's shares have moved -1.0% on the market, and are now trading at a price of $11.53. For more information, read the company's full 8-K submission here.
