Eagle Point Credit Company Inc. (NYSE:ECC) Plans $0.14 Monthly Dividend

Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Friday, November 8th,Wall Street Journal reports. Investors of record on Tuesday, March 11th will be paid a dividend of 0.14 per share by the investment management company on Monday, March 31st. This represents a $1.68 annualized dividend and a yield of 17.32%. The ex-dividend date is Tuesday, March 11th.

Eagle Point Credit has increased its dividend payment by an average of 87.7% annually over the last three years. Eagle Point Credit has a payout ratio of 133.3% indicating that 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 $1.29 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 130.2%.

Eagle Point Credit Stock Performance

Shares of ECC opened at $9.70 on Friday. Eagle Point Credit has a 12 month low of $9.22 and a 12 month high of $10.49. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.19. The firm has a market cap of $746.42 million, a PE ratio of 5.67 and a beta of 0.76. The stock has a fifty day moving average price of $9.77 and a 200-day moving average price of $9.96.

Eagle Point Credit (NYSE:ECC) last posted its earnings results on Tuesday, August 6th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.08). The business had revenue of $42.28 million for the quarter, compared to analyst estimates of $45.67 million. Eagle Point Credit had a net margin of 76.61% and a return on equity of 12.87%. Equities research analysts predict that Eagle Point Credit will post 1.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods cut their price objective on shares of Eagle Point Credit from $10.50 to $10.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th.

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.