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

Key Points

• Eagle Point Credit Company Inc. has declared a monthly dividend of $0.14 per share, with an annualized dividend and a yield of 25.3% for stockholders of record on October 14th.
• The company has a very high dividend payout ratio of 178.7%, indicating reliance on its balance sheet to cover dividend payments, as future earnings projections suggest they may not fully cover the annual dividend of $1.68.
• Eagle Point Credit's stock is currently trading at $6.64, with a market capitalization of approximately $510.95 million and a PE ratio of 60.37, demonstrating a relatively low trading price compared to its past year highs.

Eagle Point Credit Company Inc. (NYSE:ECC - Get Free Report) declared a monthly dividend on Tuesday, August 12th. Stockholders of record on Tuesday, October 14th will be given a dividend of 0.14 per share by the investment management company on Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 25.3%. The ex-dividend date of this dividend is Tuesday, October 14th.

Eagle Point Credit has a dividend payout ratio of 178.7% 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

ECC stock opened at $6.64 on Friday. The firm has a market cap of $510.95 million, a PE ratio of 60.37 and a beta of 0.39. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average of $6.92 and a 200-day moving average of $7.36. Eagle Point Credit has a 12-month low of $6.00 and a 12-month high of $9.81.

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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