Eagle Point Credit Company Inc. (NYSE:ECC - Get Free Report) 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 dividend on an annualized basis and a dividend yield of 19.46%. The ex-dividend date is Tuesday, June 10th.
Eagle Point Credit has raised its dividend payment 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 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 0.3 %
Shares of ECC traded down $0.03 during mid-day trading on Monday, hitting $8.64. 917,989 shares of the company's stock traded hands, compared to its average volume of 910,981. The firm has a market capitalization of $664.46 million, a P/E ratio of 10.79 and a beta of 0.75. The business's 50-day moving average price is $8.88 and its 200-day moving average price is $9.40. Eagle Point Credit has a 1 year low of $8.56 and a 1 year high of $10.49. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.18.
Analysts Set New Price Targets
Separately, B. Riley cut their target price on Eagle Point Credit from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th.
Read Our Latest Stock Report on ECC
Eagle Point Credit Company Profile
(
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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.
Further Reading
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