Eagle Point Credit Company Inc. (NYSE:ECC) Announces Dividend of $0.14

Eagle Point Credit Company Inc. (NYSE:ECC) declared a dividend on Monday, January 13th,investing.com reports. Stockholders of record on Tuesday, January 14th will be paid a dividend of 0.14 per share by the investment management company on Friday, January 31st. This represents a dividend yield of 18.88%. The ex-dividend date is Monday, January 13th.

Eagle Point Credit has raised its dividend by an average of 13.8% per year over the last three years. Eagle Point Credit has a dividend payout ratio of 157.0% 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 $1.31 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 128.2%.

Eagle Point Credit Price Performance

NYSE ECC traded down $0.20 during trading on Monday, hitting $8.91. 780,132 shares of the stock traded hands, compared to its average volume of 907,135. The company has a market capitalization of $685.61 million, a P/E ratio of 11.14 and a beta of 0.75. The firm has a 50-day simple moving average of $9.13 and a 200-day simple moving average of $9.61. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.18. Eagle Point Credit has a 12-month low of $8.56 and a 12-month high of $10.49.

Analyst Upgrades and Downgrades

Separately, B. Riley dropped their target price on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, January 7th.

Eagle Point Credit Company Profile

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.