Eagle Point Income Company Inc. Plans Monthly Dividend of $0.20 (NYSE:EIC)

Eagle Point Income Company Inc. (NYSE:EIC) declared a monthly dividend on Thursday, February 13th,Wall Street Journal reports. Investors of record on Tuesday, June 10th will be paid a dividend of 0.20 per share on Monday, June 30th. This represents a $2.40 annualized dividend and a yield of 15.14%. The ex-dividend date of this dividend is Tuesday, June 10th.

Eagle Point Income has raised its dividend payment by an average of 27.2% annually over the last three years.

Eagle Point Income Stock Performance

EIC traded down $0.38 during trading hours on Thursday, hitting $15.86. 742,165 shares of the stock were exchanged, compared to its average volume of 246,961. Eagle Point Income has a 12 month low of $14.78 and a 12 month high of $16.75. The stock has a 50-day simple moving average of $15.72 and a 200-day simple moving average of $15.76.

Analysts Set New Price Targets

EIC has been the topic of several analyst reports. B. Riley raised Eagle Point Income to a “strong-buy” rating in a research report on Tuesday, January 7th. LADENBURG THALM/SH SH raised Eagle Point Income to a “strong-buy” rating in a research report on Thursday, January 16th.

Eagle Point Income Company Profile

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.