Eagle Point Credit Company Inc. (NYSE:ECC) to Issue $0.06 Monthly Dividend

Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Tuesday, May 12th. Investors of record on Tuesday, August 11th will be given a dividend of 0.06 per share by the investment management company on Monday, August 31st. This represents a c) annualized dividend and a yield of 17.7%. The ex-dividend date is Tuesday, August 11th.

Eagle Point Credit has increased its dividend payment by an average of 0.1%annually over the last three years. Eagle Point Credit has a payout ratio of 176.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Down 0.1%

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

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.