Eagle Point Income Company Inc. (NYSE:EIC) Announces Monthly Dividend of $0.20

Eagle Point Income Company Inc. (NYSE:EIC) announced a monthly dividend on Friday, August 2nd,Wall Street Journal reports. Investors of record on Wednesday, December 11th will be paid a dividend of 0.20 per share on Tuesday, December 31st. This represents a $2.40 annualized dividend and a yield of 15.17%. The ex-dividend date is Wednesday, December 11th.

Eagle Point Income has increased its dividend payment by an average of 26.3% annually over the last three years.

Eagle Point Income Trading Down 0.2 %

EIC opened at $15.82 on Monday. The firm has a 50-day moving average price of $15.97 and a 200-day moving average price of $15.83. Eagle Point Income has a twelve month low of $14.18 and a twelve month high of $16.75.

Analysts Set New Price Targets

Separately, B. Riley initiated coverage on Eagle Point Income in a research report on Tuesday, September 3rd. They set a “buy” rating and a $17.50 target price on the stock.

About Eagle Point Income

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.