Eagle Point Credit Company Inc. (ECC) To Go Ex-Dividend on January 13th

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 given 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 of this dividend is Monday, January 13th.

Eagle Point Credit has increased its dividend payment by an average of 13.8% per year over the last three years. Eagle Point Credit has a dividend payout ratio of 157.0% indicating that 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 $1.31 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 Performance

Shares of NYSE ECC traded down $0.02 during midday trading on Friday, reaching $9.10. The company’s stock had a trading volume of 1,163,448 shares, compared to its average volume of 927,724. The firm has a 50 day moving average price of $9.13 and a 200-day moving average price of $9.62. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. Eagle Point Credit has a 12-month low of $8.56 and a 12-month high of $10.49. The stock has a market capitalization of $700.25 million, a P/E ratio of 11.38 and a beta of 0.75.

Analysts Set New Price Targets

Separately, B. Riley cut their price objective 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.