Ellington Credit Company (EARN) To Go Ex-Dividend on July 31st

Ellington Credit Company (NYSE:EARN) announced a monthly dividend on Wednesday, July 8th. Stockholders of record on Friday, July 31st will be paid a dividend of 0.08 per share by the real estate investment trust on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 21.9%. The ex-dividend date is Friday, July 31st.

Ellington Credit has decreased its dividend by an average of 0.0%annually over the last three years. Ellington Credit has a dividend payout ratio of 88.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

Ellington Credit Trading Up 0.3%

Shares of NYSE:EARN opened at $4.38 on Friday. The company has a 50 day moving average of $4.64 and a 200 day moving average of $4.87. The stock has a market cap of $164.79 million, a P/E ratio of -4.22 and a beta of 1.27. Ellington Credit has a 12 month low of $4.27 and a 12 month high of $6.08.

Ellington Credit (NYSE:EARN) last posted its earnings results on Wednesday, May 20th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.03). The business had revenue of $9.87 million for the quarter, compared to analyst estimates of $10.57 million.

Ellington Credit Company Profile

Ellington Credit Income Fund (NYSE: EARN) is a closed-end management investment company that seeks to generate current income through a diversified portfolio of mortgage- and asset-backed securities. The fund primarily invests in residential mortgage-backed securities (RMBS) and asset-backed securities (ABS), with additional exposure to commercial mortgage-backed securities (CMBS) and related structured credit instruments. To enhance income and manage risk, the fund employs leverage and derivative strategies such as interest rate swaps and credit default swaps, allowing it to adjust duration and credit exposure dynamically.

The fund is externally managed and advised by Ellington Management Group, LLC, an established investment firm specializing in mortgage credit and structured products.