Ellington Credit Company (EARN) to Issue Monthly Dividend of $0.08 on April 30th

Ellington Credit Company (NYSE:EARN) announced a monthly dividend on Monday, March 9th. Shareholders of record on Tuesday, March 31st will be given a dividend of 0.08 per share by the real estate investment trust on Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 20.7%. The ex-dividend date is Tuesday, March 31st.

Ellington Credit has decreased its dividend payment by an average of 0.0%annually over the last three years. Ellington Credit has a payout ratio of 88.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Ellington Credit to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 85.0%.

Ellington Credit Stock Performance

Shares of EARN stock opened at $4.65 on Wednesday. Ellington Credit has a fifty-two week low of $4.32 and a fifty-two week high of $6.38. The firm has a market capitalization of $174.46 million, a price-to-earnings ratio of -11.33 and a beta of 1.29. The stock’s 50-day simple moving average is $5.26 and its 200-day simple moving average is $5.34.

Ellington Credit (NYSE:EARN) last released its earnings results on Wednesday, March 4th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). Ellington Credit had a positive return on equity of 16.47% and a negative net margin of 34.31%.The firm had revenue of $11.12 million for the quarter, compared to analyst estimates of $12.71 million. As a group, equities analysts forecast that Ellington Credit will post 1.17 earnings per share for the current year.

Ellington Credit Company Profile

Ellington Credit Income Fund (NYSE: EARN) is a closed-end management investment company that seeks to generate current income through a diversified portfolio of mortgage- and asset-backed securities. The fund primarily invests in residential mortgage-backed securities (RMBS) and asset-backed securities (ABS), with additional exposure to commercial mortgage-backed securities (CMBS) and related structured credit instruments. To enhance income and manage risk, the fund employs leverage and derivative strategies such as interest rate swaps and credit default swaps, allowing it to adjust duration and credit exposure dynamically.

The fund is externally managed and advised by Ellington Management Group, LLC, an established investment firm specializing in mortgage credit and structured products.