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

Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Friday, November 8th,Wall Street Journal reports. Shareholders of record on Monday, February 10th will be given a dividend of 0.14 per share by the investment management company on Friday, February 28th. This represents a $1.68 dividend on an annualized basis and a yield of 17.22%. The ex-dividend date of this dividend is Monday, February 10th.

Eagle Point Credit has raised its dividend by an average of 87.7% annually over the last three years. Eagle Point Credit has a dividend payout ratio of 133.3% 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 $1.29 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 130.2%.

Eagle Point Credit Trading Up 1.2 %

ECC stock opened at $9.76 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.98 and a quick ratio of 2.98. The company has a fifty day moving average price of $9.78 and a two-hundred day moving average price of $9.96. Eagle Point Credit has a one year low of $9.22 and a one year high of $10.49. The stock has a market cap of $750.65 million, a price-to-earnings ratio of 5.70 and a beta of 0.76.

Eagle Point Credit (NYSE:ECC) last announced its earnings results on Tuesday, August 6th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.08). The business had revenue of $42.28 million during the quarter, compared to the consensus estimate of $45.67 million. Eagle Point Credit had a net margin of 76.61% and a return on equity of 12.87%. Equities analysts anticipate that Eagle Point Credit will post 1.11 EPS for the current year.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reduced their target price on shares of Eagle Point Credit from $10.50 to $10.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th.

About Eagle Point Credit

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.