Eagle Point Credit Company Inc. (NYSE:ECC) Announces Monthly Dividend of $0.06

Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Thursday, August 13th. Shareholders of record on Tuesday, November 10th will be given a dividend of 0.06 per share by the investment management company on Monday, November 30th. This represents a c) annualized dividend and a yield of 18.6%. The ex-dividend date of this dividend is Tuesday, November 10th.

Eagle Point Credit has increased its dividend by an average of 0.1%annually over the last three years. Eagle Point Credit has a payout ratio of 136.2% 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 $0.71 per share next year, which means the company may not be able to cover its $1.28 annual dividend with an expected future payout ratio of 180.3%.

Eagle Point Credit Price Performance

Shares of NYSE ECC traded up $0.06 during midday trading on Thursday, reaching $3.88. 1,096,287 shares of the company traded hands, compared to its average volume of 1,591,860. Eagle Point Credit has a 12 month low of $3.46 and a 12 month high of $7.77. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.23 and a current ratio of 0.23. The stock’s 50-day simple moving average is $3.79 and its 200-day simple moving average is $4.05. The firm has a market cap of $512.31 million, a PE ratio of 5.78 and a beta of 0.36.

Eagle Point Credit (NYSE:ECC) last posted its earnings results on Thursday, August 13th. The investment management company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Eagle Point Credit had a negative return on equity of 1.09% and a negative net margin of 87.16%. As a group, equities analysts anticipate that Eagle Point Credit will post 0.71 earnings per share for the current fiscal year.

Eagle Point Credit Company Profile

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.