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

Eagle Point Credit Company Inc. (NYSE:ECC) announced a dividend on Saturday, January 11th,investing.com reports. Stockholders of record on Tuesday, January 14th will be paid a dividend of 0.14 per share by the investment management company on Friday, January 31st. This represents a dividend yield of 18.44%. The ex-dividend date is Monday, January 13th.

Eagle Point Credit has raised its dividend payment by an average of 13.8% annually over the last three years. Eagle Point Credit has a payout ratio of 157.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Eagle Point Credit to earn $1.31 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 128.2%.

Eagle Point Credit Stock Down 0.2 %

Eagle Point Credit stock traded down $0.02 during trading on Friday, reaching $9.10. The stock had a trading volume of 1,163,448 shares, compared to its average volume of 927,724. The stock has a market cap of $700.25 million, a PE ratio of 11.38 and a beta of 0.75. The business has a 50 day moving average price of $9.13 and a 200 day moving average price of $9.62. Eagle Point Credit has a 52-week low of $8.56 and a 52-week high of $10.49. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.18.

Analyst Ratings Changes

Separately, B. Riley reduced their price target on shares of Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday.

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.