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

Eagle Point Credit Company Inc. (NYSE:ECC) declared a dividend on Monday, January 13th,investing.com reports. Investors of record on Tuesday, January 14th will be paid a dividend of 0.14 per share by the investment management company on Friday, January 31st. This represents a yield of 18.88%. The ex-dividend date of this dividend is Monday, January 13th.

Eagle Point Credit has raised its dividend payment by an average of 13.8% per year over the last three years. Eagle Point Credit has a dividend payout ratio of 157.0% meaning 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 $1.31 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 128.2%.

Eagle Point Credit Stock Down 0.2 %

NYSE ECC opened at $8.88 on Wednesday. The company has a market cap of $683.30 million, a price-to-earnings ratio of 11.10 and a beta of 0.75. Eagle Point Credit has a 1-year low of $8.56 and a 1-year high of $10.49. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average of $9.10 and a 200-day moving average of $9.59.

Wall Street Analyst Weigh In

Separately, B. Riley decreased their target price on shares of Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th.

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.