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

Eagle Point Credit Company Inc. (NYSE:ECC) announced a monthly dividend on Wednesday, May 15th, Wall Street Journal reports. Stockholders of record on Thursday, July 11th will be given a dividend of 0.14 per share by the investment management company on Wednesday, July 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 16.33%. The ex-dividend date of this dividend is Thursday, July 11th.

Eagle Point Credit has raised its dividend payment by an average of 87.7% per year over the last three years. Eagle Point Credit has a dividend payout ratio of 125.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Eagle Point Credit to earn $1.37 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 122.6%.

Eagle Point Credit Stock Performance

Shares of NYSE:ECC opened at $10.29 on Wednesday. The company has a market capitalization of $791.43 million, a price-to-earnings ratio of 5.53 and a beta of 0.77. Eagle Point Credit has a 12 month low of $8.60 and a 12 month high of $10.58. The firm’s 50-day moving average is $10.18 and its 200 day moving average is $10.05. The company has a current ratio of 4.55, a quick ratio of 4.55 and a debt-to-equity ratio of 0.20.

Eagle Point Credit (NYSE:ECC) last issued its quarterly earnings results on Tuesday, May 21st. The investment management company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). The firm had revenue of $40.81 million for the quarter, compared to the consensus estimate of $42.30 million. Eagle Point Credit had a net margin of 88.90% and a return on equity of 13.48%. Research analysts predict that Eagle Point Credit will post 1.34 EPS for the current year.

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.