Ellington Credit Company (NYSE:EARN) to Issue $0.08 Monthly Dividend

Ellington Credit Company (NYSE:EARN) declared a monthly dividend on Monday, June 8th. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.08 per share by the real estate investment trust on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 20.7%. The ex-dividend date is Tuesday, June 30th.

Ellington Credit has decreased its dividend by an average of 0.0%annually over the last three years. Ellington Credit has a dividend 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 tumble.

Ellington Credit Price Performance

Shares of EARN opened at $4.64 on Tuesday. Ellington Credit has a one year low of $4.27 and a one year high of $6.08. The company has a 50-day moving average of $4.69 and a two-hundred day moving average of $5.00. The stock has a market cap of $174.18 million, a price-to-earnings ratio of -4.46 and a beta of 1.27.

Ellington Credit (NYSE:EARN) last announced its earnings results on Wednesday, May 20th. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.03). Ellington Credit had a positive return on equity of 16.47% and a negative net margin of 75.00%.The firm had revenue of $9.87 million during the quarter, compared to analyst estimates of $10.57 million.

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.