Eagle Point Credit Company Inc. (NYSE:ECC - Get Free Report) declared a monthly dividend on Friday, February 14th,Wall Street Journal reports. Stockholders of record on Tuesday, June 10th will be paid 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 of this dividend 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. 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 Price Performance
Shares of ECC stock traded up $0.01 during mid-day trading on Tuesday, reaching $8.64. The stock had a trading volume of 797,896 shares, compared to its average volume of 962,787. Eagle Point Credit has a 12-month low of $8.56 and a 12-month high of $10.49. The company has a market cap of $664.46 million, a P/E ratio of 10.79 and a beta of 0.75. The business has a 50-day simple moving average of $8.87 and a 200 day simple moving average of $9.39. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18.
Wall Street Analyst Weigh In
Separately, B. Riley dropped their price target on Eagle Point Credit from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th.
Read Our Latest Research Report on Eagle Point Credit
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.
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