Eagle Point Credit Company Inc. Declares Monthly Dividend of $0.06 (NYSE:ECC)

Eagle Point Credit Company Inc. (NYSE:ECC) announced a monthly dividend on Tuesday, May 12th. Shareholders of record on Monday, July 13th will be paid a dividend of 0.06 per share by the investment management company on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 17.7%. The ex-dividend date of this dividend is Monday, July 13th.

Eagle Point Credit has increased its dividend payment by an average of 0.1%per year over the last three years. Eagle Point Credit has a dividend payout ratio of 176.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Eagle Point Credit to earn $0.86 per share next year, which means the company may not be able to cover its $1.66 annual dividend with an expected future payout ratio of 193.0%.

Eagle Point Credit Stock Performance

NYSE ECC traded down $0.01 on Wednesday, reaching $4.08. The stock had a trading volume of 573,704 shares, compared to its average volume of 2,024,591. Eagle Point Credit has a 12-month low of $3.46 and a 12-month high of $7.99. The business’s 50-day moving average price is $3.93 and its 200 day moving average price is $5.01. The stock has a market cap of $538.76 million, a P/E ratio of 21.45 and a beta of 0.35.

About Eagle Point Credit

Eagle Point Credit Company is a closed-end, non-diversified management investment company that seeks to generate attractive risk-adjusted returns primarily through investments in collateralized loan obligations (CLOs) and related structured credit instruments. The firm is externally managed by Eagle Point Credit Management, LLC, a specialized credit asset manager focused on the structured credit markets. Eagle Point Credit Company’s shares trade on the New York Stock Exchange under the ticker symbol ECC.

The company’s investment strategy centers on acquiring both equity and debt tranches of actively managed CLOs alongside opportunistic positions in senior secured loans, high-yield bonds and credit derivatives.