Eagle Point Credit Company Inc. (ECC) to Issue Monthly Dividend of $0.14 on August 30th

Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Monday, May 20th, Wall Street Journal reports. Stockholders of record on Monday, August 12th will be given a dividend of 0.14 per share by the investment management company on Friday, August 30th. This represents a $1.68 annualized dividend and a dividend yield of 16.29%. The ex-dividend date of this dividend is Monday, August 12th.

Eagle Point Credit has increased its dividend payment by an average of 87.7% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Eagle Point Credit has a dividend payout ratio of 120.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Eagle Point Credit to earn $1.41 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 119.1%.

Eagle Point Credit Stock Up 0.5 %

ECC opened at $10.31 on Wednesday. Eagle Point Credit has a 52 week low of $8.60 and a 52 week high of $10.95. The stock has a market cap of $793.35 million, a PE ratio of 5.79 and a beta of 0.76. The company has a quick ratio of 6.60, a current ratio of 6.60 and a debt-to-equity ratio of 0.22. The business’s fifty day simple moving average is $10.10 and its 200 day simple moving average is $9.88.

Eagle Point Credit (NYSE:ECC) last posted its quarterly earnings data on Thursday, February 22nd. The investment management company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.05). The company had revenue of $39.39 million during the quarter, compared to analysts’ expectations of $39.10 million. Eagle Point Credit had a return on equity of 14.27% and a net margin of 84.05%. During the same quarter last year, the company earned $0.29 earnings per share. As a group, research analysts expect that Eagle Point Credit will post 1.39 earnings per share for the current fiscal year.

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.