Eagle Point Credit Company Inc. (ECC) to Issue Monthly Dividend of $0.06 on September 30th

Eagle Point Credit Company Inc. (NYSE:ECC) announced a monthly dividend on Tuesday, May 12th. Shareholders of record on Thursday, September 10th will be paid a dividend of 0.06 per share by the investment management company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 18.4%. The ex-dividend date of this dividend is Thursday, September 10th.

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 dividend payout ratio of 127.7% 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 analysts expect Eagle Point Credit to earn $0.71 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 169.0%.

Eagle Point Credit Price Performance

ECC stock opened at $3.92 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.03. Eagle Point Credit has a twelve month low of $3.46 and a twelve month high of $7.77. The business’s 50-day moving average price is $3.81 and its 200-day moving average price is $3.89. The stock has a market cap of $518.26 million, a P/E ratio of 6.43 and a beta of 0.36.

Eagle Point Credit (NYSE:ECC) last posted its quarterly earnings results on Thursday, August 13th. The investment management company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $37.90 million for the quarter, compared to the consensus estimate of $41.62 million. Eagle Point Credit had a negative net margin of 84.29% and a negative return on equity of 1.83%. On average, equities research analysts forecast that Eagle Point Credit will post 0.68 EPS for the current 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.