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

Ellington Credit Company (NYSE:EARN) declared a monthly dividend on Monday, March 9th. Investors of record on Tuesday, March 31st will be paid a dividend of 0.08 per share by the real estate investment trust on Thursday, April 30th. This represents a c) annualized dividend and a yield of 21.1%. The ex-dividend date is Tuesday, March 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 decline. Equities 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 Performance

Shares of NYSE EARN opened at $4.54 on Tuesday. Ellington Credit has a fifty-two week low of $4.32 and a fifty-two week high of $6.46. The company has a market cap of $170.60 million, a PE ratio of -11.08 and a beta of 1.29. The business has a 50-day simple moving average of $5.27 and a two-hundred day simple moving average of $5.34.

Ellington Credit (NYSE:EARN) last posted its quarterly earnings results on Wednesday, March 4th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). Ellington Credit had a positive return on equity of 16.47% and a negative net margin of 34.31%.The company had revenue of $11.12 million during the quarter, compared to analysts’ expectations of $12.71 million. On average, sell-side analysts predict that Ellington Credit will post 1.17 earnings per share for the current fiscal 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.