Eagle Point Credit Company Inc. (NYSE:ECC – Get Free Report) declared a monthly dividend on Tuesday, May 12th. Shareholders of record on Tuesday, August 11th will be paid a dividend of 0.06 per share by the investment management company on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 17.6%. The ex-dividend date of this dividend is Tuesday, August 11th.
Eagle Point Credit has increased its dividend by an average of 0.1%per year over the last three years. Eagle Point Credit has a payout ratio of 153.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Eagle Point Credit to earn $0.86 per share next year, which means the company may not be able to cover its $1.44 annual dividend with an expected future payout ratio of 167.4%.
Eagle Point Credit Price Performance
Shares of NYSE:ECC opened at $4.09 on Thursday. The company has a market capitalization of $540.07 million, a PE ratio of 21.50 and a beta of 0.35. The business has a fifty day moving average price of $3.93 and a two-hundred day moving average price of $4.99. Eagle Point Credit has a 1 year low of $3.46 and a 1 year high of $7.99.
About Eagle Point Credit
Eagle Point Credit Company is a closed-end, non-diversified management investment company that seeks to generate attractive risk-adjusted returns primarily through investments in collateralized loan obligations (CLOs) and related structured credit instruments. The firm is externally managed by Eagle Point Credit Management, LLC, a specialized credit asset manager focused on the structured credit markets. Eagle Point Credit Company’s shares trade on the New York Stock Exchange under the ticker symbol ECC.
The company’s investment strategy centers on acquiring both equity and debt tranches of actively managed CLOs alongside opportunistic positions in senior secured loans, high-yield bonds and credit derivatives.
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