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

Eagle Point Credit Company Inc. (NYSE:ECC - Get Free Report) declared a dividend on Tuesday, May 6th, investing.com reports. Investors of record on Tuesday, May 13th will be paid a dividend of 0.14 per share by the investment management company on Friday, May 30th. This represents a yield of 21.08%. The ex-dividend date is Monday, May 12th.

Eagle Point Credit has raised its dividend by an average of 13.6% per year over the last three years. Eagle Point Credit has a dividend payout ratio of 166.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 $1.68 annual dividend with an expected future payout ratio of 152.7%.

Eagle Point Credit Stock Performance

Shares of NYSE:ECC traded up $0.02 during trading on Friday, reaching $8.01. The stock had a trading volume of 1,263,253 shares, compared to its average volume of 1,134,652. The firm has a market capitalization of $616.35 million, a price-to-earnings ratio of 9.54 and a beta of 0.46. The stock has a fifty day simple moving average of $7.86 and a two-hundred day simple moving average of $8.62. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.18. Eagle Point Credit has a 52 week low of $6.54 and a 52 week high of $10.49.

Eagle Point Credit (NYSE:ECC - Get Free Report) last announced its earnings results on Thursday, February 20th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.01). Eagle Point Credit had a return on equity of 12.53% and a net margin of 44.67%. The company had revenue of $49.55 million for the quarter, compared to the consensus estimate of $49.76 million. As a group, analysts anticipate that Eagle Point Credit will post 1.1 earnings per share for the current fiscal year.

Insider Activity at Eagle Point Credit

In related news, CEO Thomas P. Majewski bought 1,087 shares of the business's stock in a transaction on Friday, March 21st. The shares were purchased at an average price of $23.00 per share, with a total value of $25,001.00. Following the completion of the purchase, the chief executive officer now owns 1,087 shares of the company's stock, valued at $25,001. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Credit Suisse Group set a $10.00 price objective on Eagle Point Credit in a research report on Monday, April 21st.

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.