Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Thursday, November 19th, Wall Street Journal reports. Stockholders of record on Friday, March 12th will be given a dividend of 0.08 per share by the investment management company on Wednesday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 10.87%. The ex-dividend date of this dividend is Thursday, March 11th.
Eagle Point Credit has a payout ratio of 84.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Eagle Point Credit to earn $1.06 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 90.6%.
Eagle Point Credit stock opened at $8.83 on Friday. The firm’s 50 day simple moving average is $8.55 and its 200-day simple moving average is $7.65. The company has a market cap of $208.80 million, a P/E ratio of -5.10 and a beta of 1.16. Eagle Point Credit has a fifty-two week low of $3.78 and a fifty-two week high of $15.95.
Several research analysts have recently weighed in on the stock. B. Riley lifted their target price on shares of Eagle Point Credit from $8.00 to $10.00 in a research report on Tuesday, August 18th. LADENBURG THALM/SH SH raised their price target on shares of Eagle Point Credit from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday.
Eagle Point Credit Company Profile
Eagle Point Credit Company Inc is a closed ended fund launched and managed by Eagle Point Credit Management LLC. It invests in fixed income markets of the United States. The fund invests equity and junior debt tranches of collateralized loan obligations consisting primarily of below investment grade U.S.
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