Eagle Point Credit Company Inc. (ECC) To Go Ex-Dividend on January 13th

Eagle Point Credit Company Inc. (NYSE:ECC) declared a dividend on Wednesday, November 6th,NASDAQ Dividends reports. Shareholders of record on Monday, January 13th will be given a dividend of 0.14 per share by the investment management company on Friday, January 31st. The ex-dividend date of this dividend is Monday, January 13th.

Eagle Point Credit has raised its dividend payment by an average of 13.8% per year over the last three years. Eagle Point Credit has a dividend payout ratio of 157.0% 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 $1.31 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 128.2%.

Eagle Point Credit Price Performance

Shares of NYSE:ECC opened at $9.10 on Friday. Eagle Point Credit has a 1-year low of $8.56 and a 1-year high of $10.49. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $9.13 and its 200-day moving average is $9.62. The firm has a market capitalization of $700.25 million, a PE ratio of 11.38 and a beta of 0.75.

Analysts Set New Price Targets

Separately, B. Riley reduced their target price on shares of Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday.

About Eagle Point Credit

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.