Eagle Point Credit Company Inc. (NYSE:ECC – Get Free Report) 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.
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.
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