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

Eagle Point Credit Company Inc. (NYSE:ECCGet Free Report) declared a monthly dividend on Wednesday, May 15th, Wall Street Journal reports. Investors of record on Thursday, July 11th will be paid a dividend of 0.14 per share by the investment management company on Wednesday, July 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 16.33%. The ex-dividend date is Thursday, July 11th.

Eagle Point Credit has increased its dividend payment by an average of 87.7% annually over the last three years. Eagle Point Credit has a payout ratio of 125.4% 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 $1.37 per share next year, which means the company may not be able to cover its $1.68 annual dividend with an expected future payout ratio of 122.6%.

Eagle Point Credit Stock Performance

Shares of NYSE ECC opened at $10.29 on Wednesday. The business has a fifty day simple moving average of $10.18 and a 200 day simple moving average of $10.05. The company has a current ratio of 4.55, a quick ratio of 4.55 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $791.43 million, a price-to-earnings ratio of 5.53 and a beta of 0.77. Eagle Point Credit has a one year low of $8.60 and a one year high of $10.58.

Eagle Point Credit (NYSE:ECCGet Free Report) last issued its earnings results on Tuesday, May 21st. The investment management company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). The firm had revenue of $40.81 million during the quarter, compared to analyst estimates of $42.30 million. Eagle Point Credit had a net margin of 88.90% and a return on equity of 13.48%. Sell-side analysts expect that Eagle Point Credit will post 1.34 EPS for the current year.

Eagle Point Credit Company Profile

(Get Free Report)

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.

Recommended Stories

Dividend History for Eagle Point Credit (NYSE:ECC)

Receive News & Ratings for Eagle Point Credit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Point Credit and related companies with MarketBeat.com's FREE daily email newsletter.