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 Thursday, August 13th. Shareholders of record on Friday, December 11th will be given a dividend of 0.06 per share by the investment management company on Thursday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 18.6%. The ex-dividend date is Friday, December 11th.

Eagle Point Credit has increased its dividend payment by an average of 0.1%annually over the last three years. Eagle Point Credit has a dividend payout ratio of 136.2% 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 $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 ECC traded up $0.06 during mid-day trading on Thursday, reaching $3.88. The stock had a trading volume of 1,096,287 shares, compared to its average volume of 1,591,860. The business has a fifty day moving average of $3.79 and a 200 day moving average of $4.05. 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 firm has a market cap of $512.31 million, a price-to-earnings ratio of 5.78 and a beta of 0.36. Eagle Point Credit has a 12 month low of $3.46 and a 12 month high of $7.77.

Eagle Point Credit (NYSE:ECC) last announced its quarterly earnings data on Thursday, August 13th. The investment management company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Eagle Point Credit had a negative net margin of 87.16% and a negative return on equity of 1.09%. Equities analysts predict that Eagle Point Credit will post 0.71 EPS for the current year.

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.