Eagle Point Credit Company Inc. (ECC) to Issue Monthly Dividend of $0.06 on November 30th

Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Thursday, August 13th. Investors of record on Tuesday, November 10th will be given a dividend of $0.06 per share by the investment management company on Monday, November 30th. This represents a $0.72 dividend on an annualized basis and a yield of 31.1%. The ex-dividend date of this dividend is Tuesday, November 10th.

Eagle Point Credit has raised its dividend by an average of 0.1% per year over the last three years. Eagle Point Credit has a dividend payout ratio of 110.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Eagle Point Credit to earn $0.71 per share next year, which means the company may not be able to cover its $1.04 annual dividend with an expected future payout ratio of 146.5%.

Eagle Point Credit Price Performance

ECC stock opened at $2.31 on Friday. The company has a market capitalization of $306.06 million, a P/E ratio of 3.80 and a beta of 0.40. Eagle Point Credit has a twelve month low of $2.14 and a twelve month high of $6.45. The business has a 50 day simple moving average of $3.25 and a 200-day simple moving average of $3.86. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.03.

Eagle Point Credit (NYSE:ECC) last announced its earnings results on Thursday, August 13th. The investment management company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Eagle Point Credit had a negative return on equity of 1.83% and a negative net margin of 84.29%. The business had revenue of $37.90 million for the quarter, compared to analysts’ expectations of $41.62 million. As a group, equities analysts anticipate that Eagle Point Credit will post 0.68 EPS for the current year.

Eagle Point Credit Company Profile

Eagle Point Credit Company Inc (NYSE: ECC) is a closed-end management investment company focused on investments in collateralized loan obligations (CLOs). The company seeks to generate current income and, to a lesser extent, capital appreciation through exposure to CLO equity and junior debt securities.

CLOs are structured finance vehicles that generally hold portfolios of senior secured corporate loans. Eagle Point Credit may invest across different layers of the CLO capital structure, including subordinated securities, preferred equity and other related investments.