Eagle Point Income Company Inc. to Issue Monthly Dividend of $0.20 (NYSE:EIC)

Eagle Point Income Company Inc. (NYSE:EIC) announced a monthly dividend on Friday, February 14th,Wall Street Journal reports. Investors of record on Tuesday, June 10th will be given a dividend of 0.20 per share on Monday, June 30th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 15.09%. The ex-dividend date is Tuesday, June 10th.

Eagle Point Income has increased its dividend payment by an average of 27.2% annually over the last three years.

Eagle Point Income Stock Up 0.3 %

Shares of EIC stock opened at $15.90 on Friday. The firm’s 50 day moving average price is $15.72 and its two-hundred day moving average price is $15.76. Eagle Point Income has a 52-week low of $14.78 and a 52-week high of $16.75.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. LADENBURG THALM/SH SH upgraded Eagle Point Income to a “strong-buy” rating in a research report on Thursday, January 16th. B. Riley raised Eagle Point Income to a “strong-buy” rating in a research note on Tuesday, January 7th.

About Eagle Point Income

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.