Eagle Point Credit Company Inc. (ECC) to Issue Monthly Dividend of $0.14 on May 31st

Eagle Point Credit Company Inc. (NYSE:ECC) announced a monthly dividend on Tuesday, February 13th, Wall Street Journal reports. Shareholders of record on Monday, May 13th will be given a dividend of 0.14 per share by the investment management company on Friday, May 31st. This represents a $1.68 dividend on an annualized basis and a yield of 16.40%. The ex-dividend date is Friday, May 10th.

Eagle Point Credit has raised its dividend payment by an average of 87.7% per year over the last three years.

Eagle Point Credit Price Performance

Shares of NYSE:ECC opened at $10.25 on Wednesday. Eagle Point Credit has a twelve month low of $8.60 and a twelve month high of $11.79. The company has a market cap of $788.35 million, a price-to-earnings ratio of 5.76 and a beta of 0.76. The business has a 50 day moving average price of $10.08 and a 200 day moving average price of $9.81. The company has a quick ratio of 6.60, a current ratio of 6.60 and a debt-to-equity ratio of 0.22.

Eagle Point Credit (NYSE:ECC) last posted its quarterly earnings results on Thursday, February 22nd. The investment management company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.05). Eagle Point Credit had a return on equity of 14.27% and a net margin of 84.05%. The company had revenue of $39.39 million during the quarter, compared to analyst estimates of $39.10 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. Research analysts predict that Eagle Point Credit will post 1.39 earnings per share for the current year.

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.