Eagle Point Credit Company Inc. (NYSE:ECC) Announces $0.14 Monthly Dividend

Eagle Point Credit Company Inc. (NYSE:ECC) announced a monthly dividend on Friday, November 8th, Wall Street Journal reports. Stockholders of record on Tuesday, March 11th will be given a dividend of 0.14 per share by the investment management company on Monday, March 31st. This represents a $1.68 annualized dividend and a dividend yield of 19.12%. The ex-dividend date is Tuesday, March 11th.

Eagle Point Credit has raised its dividend by an average of 14.0% per year over the last three years. Eagle Point Credit has a payout ratio of 166.3% 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 $1.10 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 152.7%.

Eagle Point Credit Stock Down 0.4 %

Eagle Point Credit stock opened at $8.79 on Friday. Eagle Point Credit has a fifty-two week low of $8.56 and a fifty-two week high of $10.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27. The company has a market capitalization of $676.14 million, a P/E ratio of 10.46 and a beta of 0.73. The stock has a 50-day simple moving average of $8.82 and a 200-day simple moving average of $9.28.

Eagle Point Credit (NYSE:ECC) last posted its quarterly earnings data on Thursday, February 20th. The investment management company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). The company had revenue of $49.55 million for the quarter, compared to analysts’ expectations of $49.76 million. Eagle Point Credit had a net margin of 44.67% and a return on equity of 12.53%. Equities research analysts expect that Eagle Point Credit will post 1.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, B. Riley reduced their price objective on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th.

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.