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

Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Thursday, November 13th. Investors of record on Wednesday, March 11th will be paid a dividend of 0.14 per share by the investment management company on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 28.7%. The ex-dividend date is Wednesday, March 11th.

Eagle Point Credit has decreased its dividend payment by an average of 0.0%annually over the last three years. Eagle Point Credit has a payout ratio of 193.6% indicating that 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 $1.10 per share next year, which means the company may not be able to cover its $1.82 annual dividend with an expected future payout ratio of 165.5%.

Eagle Point Credit Trading Down 2.1%

ECC traded down $0.13 during trading on Friday, hitting $5.85. 734,013 shares of the stock were exchanged, compared to its average volume of 1,498,372. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 2.23. The firm has a 50 day simple moving average of $6.52 and a 200 day simple moving average of $7.12. The firm has a market cap of $738.40 million, a price-to-earnings ratio of 53.23 and a beta of 0.37. Eagle Point Credit has a 1 year low of $5.80 and a 1 year high of $9.53.

Eagle Point Credit (NYSE:ECC) last announced its quarterly earnings results on Thursday, November 13th. The investment management company reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. Eagle Point Credit had a return on equity of 13.49% and a net margin of 6.73%.The firm had revenue of $52.00 million for the quarter, compared to analyst estimates of $50.86 million. As a group, equities analysts expect that Eagle Point Credit will post 1.1 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.