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, May 12th. Stockholders 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 dividend yield of 17.6%. The ex-dividend date is Thursday, September 10th.

Eagle Point Credit has raised its dividend payment by an average of 0.1%annually over the last three years. Eagle Point Credit has a payout ratio of 176.6% 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 $0.86 per share next year, which means the company may not be able to cover its $1.66 annual dividend with an expected future payout ratio of 193.0%.

Eagle Point Credit Stock Performance

NYSE ECC traded up $0.02 during mid-day trading on Wednesday, reaching $4.10. 585,677 shares of the stock were exchanged, compared to its average volume of 2,024,786. Eagle Point Credit has a 1-year low of $3.46 and a 1-year high of $7.99. The business’s fifty day simple moving average is $3.93 and its 200 day simple moving average is $5.01. The stock has a market capitalization of $541.40 million, a PE ratio of 21.50 and a beta of 0.35.

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.