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

Eagle Point Credit Company Inc. (NYSE:ECC) declared a dividend on Saturday, January 11th,investing.com reports. Stockholders of record on Tuesday, January 14th will be paid a dividend of 0.14 per share by the investment management company on Friday, January 31st. This represents a dividend yield of 18.44%. The ex-dividend date of this dividend is Monday, January 13th.

Eagle Point Credit has increased its dividend payment by an average of 13.8% per year over the last three years. Eagle Point Credit has a 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. 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 Trading Down 0.2 %

Shares of Eagle Point Credit stock traded down $0.02 on Friday, hitting $9.10. 1,163,448 shares of the company’s stock traded hands, compared to its average volume of 927,724. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. Eagle Point Credit has a one year low of $8.56 and a one year high of $10.49. The company has a fifty day moving average of $9.13 and a two-hundred day moving average of $9.62. The company has a market capitalization of $700.25 million, a price-to-earnings ratio of 11.38 and a beta of 0.75.

Analyst Ratings Changes

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