Ellington Credit Company (NYSE:EARN) to Issue Monthly Dividend of $0.08

Ellington Credit Company (NYSE:EARN) declared a monthly dividend on Monday, February 9th. Shareholders of record on Friday, February 27th will be given a dividend of 0.08 per share by the real estate investment trust on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 18.3%. The ex-dividend date is Friday, February 27th.

Ellington Credit has decreased its dividend by an average of 0.0%per year 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 decline. Research analysts expect Ellington Credit to earn $1.13 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 85.0%.

Ellington Credit Stock Down 0.5%

Shares of NYSE:EARN opened at $5.26 on Tuesday. The company has a market capitalization of $197.38 million, a P/E ratio of 65.70 and a beta of 1.27. Ellington Credit has a 52-week low of $4.32 and a 52-week high of $6.60. The stock’s fifty day simple moving average is $5.37 and its 200-day simple moving average is $5.45.

Ellington Credit (NYSE:EARN) last announced its earnings results on Wednesday, November 19th. The real estate investment trust reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. The firm had revenue of $11.88 million during the quarter, compared to the consensus estimate of $11.41 million. Ellington Credit had a net margin of 12.41% and a return on equity of 16.47%. On average, sell-side analysts anticipate that Ellington Credit will post 1.17 earnings per share for the current year.

About Ellington Credit

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.