Eagle Point Credit Company Inc. (ECC) to Issue Monthly Dividend of $0.14 on September 30th

Eagle Point Credit Company Inc. (NYSE:ECCGet Free Report) declared a monthly dividend on Tuesday, May 21st, Wall Street Journal reports. Stockholders of record on Tuesday, September 10th will be paid a dividend of 0.14 per share by the investment management company on Monday, September 30th. This represents a $1.68 annualized dividend and a dividend yield of 16.36%. The ex-dividend date of this dividend is Tuesday, September 10th.

Eagle Point Credit has increased its dividend by an average of 87.7% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Eagle Point Credit has a payout ratio of 120.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Eagle Point Credit to earn $1.41 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 119.1%.

Eagle Point Credit Price Performance

ECC opened at $10.27 on Thursday. The business’s 50-day moving average is $10.10 and its two-hundred day moving average is $9.89. Eagle Point Credit has a 1 year low of $8.60 and a 1 year high of $10.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.60 and a quick ratio of 6.60. The firm has a market capitalization of $790.28 million, a PE ratio of 5.52 and a beta of 0.76.

Eagle Point Credit (NYSE:ECCGet Free Report) last posted its earnings results on Tuesday, May 21st. The investment management company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Eagle Point Credit had a net margin of 88.90% and a return on equity of 14.21%. The company had revenue of $40.81 million during the quarter, compared to analysts’ expectations of $42.30 million. Research analysts anticipate that Eagle Point Credit will post 1.39 earnings per share for the current fiscal year.

Eagle Point Credit Company Profile

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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.

See Also

Dividend History for Eagle Point Credit (NYSE:ECC)

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