Eagle Point Credit Company Inc. (ECC) to Issue Dividend of $0.14 on January 31st

Eagle Point Credit Company Inc. (NYSE:ECC) declared a dividend on Saturday, January 11th,investing.com reports. Shareholders of record on Tuesday, January 14th will be given a dividend of 0.14 per share by the investment management company on Friday, January 31st. This represents a yield of 18.44%. The ex-dividend date of this dividend is Monday, January 13th.

Eagle Point Credit has increased its dividend by an average of 13.8% annually over the last three years. Eagle Point Credit has a payout ratio of 157.0% indicating that 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 $1.31 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 Trading Down 0.2 %

Shares of ECC traded down $0.02 during mid-day trading on Friday, reaching $9.10. 1,163,448 shares of the company were exchanged, compared to its average volume of 927,724. Eagle Point Credit has a 52 week low of $8.56 and a 52 week high of $10.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27. The stock has a market capitalization of $700.25 million, a PE ratio of 11.38 and a beta of 0.75. The business has a 50 day simple moving average of $9.13 and a two-hundred day simple moving average of $9.62.

Analyst Upgrades and Downgrades

Separately, B. Riley reduced their price objective on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday.

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.