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

Eagle Point Income Company Inc. (NYSE:EIC) declared a monthly dividend on Friday, November 8th,Wall Street Journal reports. Stockholders of record on Monday, February 10th will be given a dividend of 0.20 per share on Friday, February 28th. This represents a $2.40 annualized dividend and a dividend yield of 14.42%. The ex-dividend date is Monday, February 10th.

Eagle Point Income has raised its dividend by an average of 26.3% annually over the last three years.

Eagle Point Income Stock Performance

EIC stock opened at $16.65 on Friday. Eagle Point Income has a 1-year low of $14.14 and a 1-year high of $16.75. The business has a fifty day moving average price of $15.91 and a 200-day moving average price of $15.84.

Eagle Point Income (NYSE:EIC) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.44 earnings per share for the quarter. The business had revenue of $10.92 million during the quarter.

Analyst Upgrades and Downgrades

Separately, B. Riley initiated coverage on Eagle Point Income in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $17.50 price target for the company.

About Eagle Point Income

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.