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

Ellington Credit Company (NYSE:EARN) announced a monthly dividend on Monday, August 10th. Stockholders of record on Monday, August 31st will be given a dividend of 0.08 per share by the real estate investment trust on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 22.0%. The ex-dividend date is Monday, August 31st.

Ellington Credit has decreased its dividend payment by an average of 0.0%annually over the last three years. Ellington Credit has a payout ratio of 88.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Ellington Credit Stock Down 0.9%

Shares of NYSE EARN traded down $0.04 during midday trading on Monday, hitting $4.36. The stock had a trading volume of 217,779 shares, compared to its average volume of 443,148. Ellington Credit has a 1 year low of $4.25 and a 1 year high of $5.89. The stock has a 50 day simple moving average of $4.46 and a 200-day simple moving average of $4.72. The company has a market capitalization of $163.86 million, a PE ratio of -4.19 and a beta of 1.28.

Ellington Credit (NYSE:EARN) last posted its quarterly earnings results on Wednesday, May 20th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). 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.