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

Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Thursday, August 13th. Shareholders of record on Tuesday, October 13th will be paid a dividend of 0.06 per share by the investment management company on Friday, October 30th. This represents a c) dividend on an annualized basis and a yield of 18.6%. The ex-dividend date of this dividend is Tuesday, October 13th.

Eagle Point Credit has raised its dividend payment by an average of 0.1%per year over the last three years. Eagle Point Credit has a payout ratio of 136.2% 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 $0.71 per share next year, which means the company may not be able to cover its $1.28 annual dividend with an expected future payout ratio of 180.3%.

Eagle Point Credit Price Performance

ECC stock traded up $0.06 during trading on Thursday, hitting $3.88. The company had a trading volume of 1,096,287 shares, compared to its average volume of 1,591,860. The company has a fifty day moving average price of $3.79 and a two-hundred day moving average price of $4.05. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.02. The company has a market cap of $512.31 million, a P/E ratio of 5.78 and a beta of 0.36. Eagle Point Credit has a fifty-two week low of $3.46 and a fifty-two week high of $7.77.

Eagle Point Credit (NYSE:ECC) last released its quarterly earnings results on Thursday, August 13th. The investment management company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Eagle Point Credit had a negative net margin of 87.16% and a negative return on equity of 1.09%. Equities research analysts expect that Eagle Point Credit will post 0.71 earnings per share for the current fiscal year.

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.