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

Eagle Point Credit Company Inc. (NYSE:ECC) announced a monthly dividend on Friday, February 14th,Wall Street Journal reports. Investors of record on Tuesday, June 10th will be given a dividend of 0.14 per share by the investment management company on Monday, June 30th. This represents a $1.68 dividend on an annualized basis and a yield of 19.46%. The ex-dividend date of this dividend is Tuesday, June 10th.

Eagle Point Credit has raised its dividend by an average of 12.5% annually 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 $1.10 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

Eagle Point Credit stock opened at $8.64 on Friday. The firm’s 50 day simple moving average is $8.90 and its 200 day simple moving average is $9.41. 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 firm has a market capitalization of $664.46 million, a PE ratio of 10.79 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.

Analyst Upgrades and Downgrades

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 report 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.