Eagle Point Credit Company Inc. (NYSE:ECC – Get Free Report) declared a — dividend on Thursday, August 1st, Wall Street Journal reports. Investors of record on Friday, October 11th will be paid a dividend of 0.16 per share by the investment management company on Thursday, October 31st. This represents a yield of 17%. The ex-dividend date is Friday, October 11th.
Eagle Point Credit has increased its dividend by an average of 87.7% per year over the last three years. Eagle Point Credit has a payout ratio of 125.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Eagle Point Credit to earn $1.37 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 122.6%.
Eagle Point Credit Stock Performance
ECC stock traded up $0.22 on Tuesday, reaching $9.84. The company’s stock had a trading volume of 819,158 shares, compared to its average volume of 826,957. Eagle Point Credit has a 52 week low of $8.60 and a 52 week high of $10.58. The company has a market capitalization of $757.19 million, a P/E ratio of 5.28 and a beta of 0.77. The firm has a fifty day moving average of $10.08 and a two-hundred day moving average of $10.08. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.55 and a quick ratio of 4.55.
About Eagle Point Credit
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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