CION Investment Corporation Declares Special Distribution
CION Investment Corporation, a non-traded business development company, has declared regular monthly cash distributions for January 2021 and special cash distributions for the year ending December 31, 2020.
CION Investment Corporation, a non-traded business development company, has declared regular monthly cash distributions for January 2021 and a special cash distribution for the year ending December 31, 2020.
The regular monthly cash distributions of $0.04413 per share will be paid on January 27, 2021 to shareholders of record as of January 26, 2021. Shareholders who participate in the distribution reinvestment plan will be issued shares for the January 2021 distributions on January 27, 2021, the company said.
In addition, the company declared a one-time special distribution of $0.15180 per share that will be paid on December 29, 2020 to shareholders of record as of December 21, 2020. Shareholders who participate in the DRP will be issued shares for the special distribution on December 22, 2020.
In March 2020, the company temporarily suspended cash distributions to shareholders in the early days of the pandemic, and reinstated distributions in August.
CION Investment Corporation invests in senior secured debt and private and private and thinly traded middle market companies. The company’s initial continuous public offering commenced in July 2012, and the company raised approximately $1.5 billion in investment equity before closing its follow-on offering in January 2019. CION’s investment portfolio had a fair value of nearly $1.6 billion, as of September 30, 2020. The company’s net asset value per share was $7.62 as of September 30, 2020.
