Monitor whether NII recovers in Q2 to cover the $0.30 quarterly distribution. Continued NAV erosion or further declines in NII could force a dividend cut. Watch the May 7 earnings call for commentary on portfolio marks and new investment yields.
Price Chart
Executive Summary
CION Investment Corp reported Q1 2026 net investment income (NII) of $0.25 per share, down from $0.35 in Q4 2025 and covering only 83% of the $0.30 quarterly distribution. NAV fell 4.7% to $13.11 due to $36.1M in unrealized losses, while total investment income declined to $49.5M. Non-accruals at amortized cost increased to 5.35%.
Key Financial Metrics
Key Facts
- Q1 2026 NII per share $0.25 vs $0.35 in Q4 2025 (down 29%)
- GAAP EPS -$0.45 due to $36.1M unrealized losses
- NAV per share fell 4.7% to $13.11 from $13.76
- Total investment income declined 8% QoQ to $49.5M
- Distribution coverage ratio 0.83x (NII $0.25 vs $0.30 dividend)
- Non-accrual investments at amortized cost rose to 5.35% from 4.32%
- Company repurchased 1.1M shares at avg $8.71 during Q1
Financial Impact
NII per share declined 29% QoQ, NAV decreased $0.65 per share (4.7%)
Risk Factors
- Distribution could be reduced if NII does not improve
- Portfolio credit quality deterioration with rising non-accruals
- Higher interest expenses pressuring net investment income
- Potential further mark-to-market losses in NAV
Market Snapshot
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-056729 |
| Document: tm2613748d1_8k.htm | 0001104659-26-056729 |
| Document: tm2613748d1_ex99-2.htm | 0001104659-26-056729 |
| Document: 0001104659-26-056729-index-headers.html | 0001104659-26-056729 |
| Document: 0001104659-26-056729-index.html | 0001104659-26-056729 |
| Document: 0001104659-26-056729.txt | 0001104659-26-056729 |
| 8-K Data (Synthetic) | 0001104659-26-056729 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 7, 2026 24w ago | 8-K | $24.96 $24.86 | ▲ +0.40% | ▲ +4.23% | $24.40 (+2.24%) |
May 5, 2026 24w ago | DEFA14A | $25.03 $24.83 | ▼ −0.80% | ▼ −2.86% | $24.40 (−2.52%) |
Apr 6, 2026 29w ago | 8-K | $24.89 $24.87 | ▼ −0.06% | ▼ −13.53% | $24.40 (−1.95%) |
US Market Status
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