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

Eagle Point Credit Company Inc. (NYSE:ECC) announced a monthly dividend on Thursday, February 13th,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 19.39%. The ex-dividend date is Tuesday, June 10th.

Eagle Point Credit has increased its dividend payment by an average of 12.5% per year 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 $1.10 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 Trading Down 0.5 %

Shares of Eagle Point Credit stock traded down $0.05 during trading on Thursday, hitting $8.67. The stock had a trading volume of 891,897 shares, compared to its average volume of 970,009. The firm’s fifty day simple moving average is $8.91 and its 200-day simple moving average is $9.42. The stock has a market cap of $666.77 million, a PE ratio of 10.83 and a beta of 0.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. Eagle Point Credit has a 12 month low of $8.56 and a 12 month high of $10.49.

Analysts Set New Price Targets

Separately, B. Riley decreased their price objective on shares of Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company 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.