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

Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Thursday, November 13th. Investors of record on Monday, January 12th will be paid a dividend of 0.14 per share by the investment management company on Friday, January 30th. This represents a c) annualized dividend and a yield of 28.7%. The ex-dividend date of this dividend is Monday, January 12th.

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 Price Performance

NYSE ECC traded down $0.13 on Friday, hitting $5.85. The stock had a trading volume of 734,013 shares, compared to its average volume of 1,498,372. The firm has a 50-day moving average of $6.52 and a 200-day moving average of $7.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 2.23. Eagle Point Credit has a 52-week low of $5.80 and a 52-week high of $9.53. The company has a market capitalization of $738.40 million, a price-to-earnings ratio of 53.23 and a beta of 0.37.

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

Eagle Point Credit Company Profile

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.