Eagle Point Income Company Inc. (EIC) to Issue Monthly Dividend of $0.20 on March 31st

Eagle Point Income Company Inc. (NYSE:EIC) declared a monthly dividend on Friday, November 8th, Wall Street Journal reports. Investors of record on Tuesday, March 11th will be paid a dividend of 0.20 per share on Monday, March 31st. This represents a $2.40 annualized dividend and a dividend yield of 14.98%. The ex-dividend date is Tuesday, March 11th.

Eagle Point Income has increased its dividend by an average of 27.2% per year over the last three years.

Eagle Point Income Stock Up 1.8 %

Shares of EIC opened at $16.02 on Friday. The stock’s fifty day simple moving average is $15.84 and its 200 day simple moving average is $15.79. Eagle Point Income has a twelve month low of $14.78 and a twelve month high of $16.75.

Eagle Point Income (NYSE:EIC) last issued its earnings results on Thursday, February 20th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.08). The company had revenue of $13.67 million during the quarter, compared to analyst estimates of $13.54 million.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. LADENBURG THALM/SH SH raised Eagle Point Income to a “strong-buy” rating in a research report on Thursday, January 16th. B. Riley raised Eagle Point Income to a “strong-buy” rating in a research report on Tuesday, January 7th.

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.