Eagle Point Credit Company Inc. (NYSE:ECC) Plans $0.14 Monthly Dividend

Eagle Point Credit Company Inc. (NYSE:ECC) announced a monthly dividend on Thursday, November 13th. Stockholders of record on Monday, January 12th will be paid a dividend of 0.14 per share by the investment management company on Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 28.5%. The ex-dividend date is Monday, January 12th.

Eagle Point Credit has decreased its dividend payment by an average of 0.0%annually over the last three years. Eagle Point Credit has a dividend payout ratio of 193.6% indicating that 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 $1.10 per share next year, which means the company may not be able to cover its $1.82 annual dividend with an expected future payout ratio of 165.5%.

Eagle Point Credit Stock Down 1.4%

ECC stock traded down $0.09 during trading on Friday, reaching $5.89. 497,564 shares of the stock were exchanged, compared to its average volume of 1,496,890. The firm’s 50 day moving average is $6.52 and its 200 day moving average is $7.12. Eagle Point Credit has a twelve month low of $5.80 and a twelve month high of $9.53. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32. The firm has a market cap of $743.45 million, a P/E ratio of 53.50 and a beta of 0.37.

Eagle Point Credit (NYSE:ECC) last announced its quarterly earnings data on Thursday, November 13th. The investment management company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. Eagle Point Credit had a return on equity of 13.49% and a net margin of 6.73%.The firm had revenue of $52.00 million during the quarter, compared to analysts’ expectations of $50.86 million. As a group, research analysts forecast that Eagle Point Credit will post 1.1 EPS for the current year.

About Eagle Point Credit

Eagle Point Credit Company Inc is a closed ended fund launched and managed by Eagle Point Credit Management LLC. It invests in fixed income markets of the United States. The fund invests equity and junior debt tranches of collateralized loan obligations consisting primarily of below investment grade U.S.