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

Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Tuesday, February 17th. Stockholders of record on Monday, May 11th will be given a dividend of 0.06 per share by the investment management company on Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 17.3%. The ex-dividend date of this dividend is Monday, May 11th.

Eagle Point Credit has decreased its dividend by an average of 0.0%annually over the last three years. Eagle Point Credit has a dividend payout ratio of 178.7% meaning 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 $1.10 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%

Shares of NYSE:ECC opened at $4.15 on Wednesday. Eagle Point Credit has a 52-week low of $3.95 and a 52-week high of $8.86. The stock has a market cap of $524.66 million, a P/E ratio of 21.86 and a beta of 0.28. The business has a fifty day moving average of $5.51 and a two-hundred day moving average of $6.18.

About Eagle Point Credit

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.