CION - CION Investment Corporation: Strong Cash Flow And Massive Dividend Coverage

2024-05-15 05:30:37 ET

Summary

• CION Investment Corporation is a newer business development company with inception dating back to 2021.
• CION currently trades at a discount to NAV, and I believe the quality portfolio construction and performance can justify it eventually trading in premium territory.
• The current dividend yield is 11.8%, covered by a massive margin of 176% against the NII per share.
• The non-accrual rate has improved down to 0.86% at fair value.

Overview

CION Investment Corporation ( CION ) is a newer business development company with an inception year of only 2021. Since we don't have much historical data to base an analysis on, I opted to take a look into the company's fundamentals when it comes to investment quality, risk management, and distribution policy. I decided that CION was worth the time to research after seeing that the price performance and total return have both been strong over the last year....

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