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

Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Thursday, February 13th,Wall Street Journal reports. Stockholders of record on Tuesday, June 10th will be given a dividend of 0.14 per share by the investment management company on Monday, June 30th. This represents a $1.68 annualized dividend and a dividend yield of 19.46%. The ex-dividend date of this dividend is Tuesday, June 10th.

Eagle Point Credit has raised its dividend by an average of 12.5% annually over the last three years. Eagle Point Credit has a 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 $1.10 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 152.7%.

Eagle Point Credit Trading Down 0.3 %

Eagle Point Credit stock opened at $8.64 on Friday. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. The business’s fifty day simple moving average is $8.90 and its two-hundred day simple moving average is $9.41. Eagle Point Credit has a 12 month low of $8.56 and a 12 month high of $10.49. The company has a market capitalization of $664.46 million, a price-to-earnings ratio of 10.79 and a beta of 0.75.

Analyst Ratings Changes

Separately, B. Riley decreased their target price on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th.

About Eagle Point Credit

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.