Eagle Point Credit Company Inc. (NYSE:ECC) Announces $0.06 Monthly Dividend

Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Tuesday, February 17th. Investors of record on Friday, April 10th will be given a dividend of 0.06 per share by the investment management company on Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 17.3%. The ex-dividend date of this dividend is Friday, April 10th.

Eagle Point Credit has decreased its dividend by an average of 0.0%per year over the last three years. Eagle Point Credit has a payout ratio of 178.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Eagle Point Credit to earn $1.10 per share next year, which means the company may not be able to cover its $1.68 annual dividend with an expected future payout ratio of 152.7%.

Eagle Point Credit Stock Down 6.7%

Shares of NYSE ECC opened at $4.17 on Wednesday. Eagle Point Credit has a 12-month low of $3.95 and a 12-month high of $8.86. The firm’s 50-day simple moving average is $5.51 and its 200 day simple moving average is $6.18. The company has a market cap of $526.80 million, a price-to-earnings ratio of 21.95 and a beta of 0.28.

Eagle Point Credit Company Profile

Eagle Point Credit Company is a closed-end, non-diversified management investment company that seeks to generate attractive risk-adjusted returns primarily through investments in collateralized loan obligations (CLOs) and related structured credit instruments. The firm is externally managed by Eagle Point Credit Management, LLC, a specialized credit asset manager focused on the structured credit markets. Eagle Point Credit Company’s shares trade on the New York Stock Exchange under the ticker symbol ECC.

The company’s investment strategy centers on acquiring both equity and debt tranches of actively managed CLOs alongside opportunistic positions in senior secured loans, high-yield bonds and credit derivatives.