Eagle Point Credit Company Inc. (NYSE:ECC) Plans Monthly Dividend of $0.08

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Eagle Point Credit Company Inc. (NYSE:ECC) announced a monthly dividend on Friday, February 12th, Wall Street Journal reports. Investors of record on Monday, April 12th will be given a dividend of 0.08 per share by the investment management company on Friday, April 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.80%. The ex-dividend date is Friday, April 9th.

Eagle Point Credit has a payout ratio of 84.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Eagle Point Credit to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 77.4%.

NYSE:ECC opened at $12.30 on Thursday. Eagle Point Credit has a 1 year low of $5.25 and a 1 year high of $12.32. The stock has a 50-day moving average price of $11.64 and a two-hundred day moving average price of $10.13. The stock has a market cap of $290.90 million, a price-to-earnings ratio of -7.11 and a beta of 1.19.

Eagle Point Credit (NYSE:ECC) last issued its quarterly earnings data on Monday, February 22nd. The investment management company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.05). As a group, equities analysts expect that Eagle Point Credit will post 1.17 earnings per share for the current year.

Separately, B. Riley increased their price objective on shares of Eagle Point Credit from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, February 22nd.

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.

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Dividend History for Eagle Point Credit (NYSE:ECC)

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