Ellington Credit Company (EARN) To Go Ex-Dividend on October 30th

Ellington Credit Company (NYSE:EARN) announced a monthly dividend on Wednesday, October 7th. Stockholders of record on Friday, October 30th will be given a dividend of $0.08 per share by the real estate investment trust on Monday, November 30th. This represents a $0.96 annualized dividend and a dividend yield of 27.1%. The ex-dividend date is Friday, October 30th.

Ellington Credit has decreased its dividend payment by an average of 0.0%annually over the last three years. Ellington Credit has a dividend payout ratio of 88.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Ellington Credit Trading Up 1.9%

EARN opened at $3.55 on Friday. Ellington Credit has a 12-month low of $3.29 and a 12-month high of $5.72. The company has a market cap of $135.39 million, a price-to-earnings ratio of -3.62 and a beta of 1.32. The company’s 50 day moving average is $4.25 and its 200 day moving average is $4.46.

Ellington Credit (NYSE:EARN) last announced its earnings results on Wednesday, August 12th. The real estate investment trust reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.05). The company had revenue of $6.08 million during the quarter, compared to the consensus estimate of $10.57 million.

About Ellington Credit

Ellington Credit Company (NYSE: EARN) is a real estate investment trust focused on the residential mortgage market. The company invests in residential mortgage assets, including residential mortgage-backed securities and residential mortgage loans, with an emphasis on assets that generate income from housing-related credit and financing activities.

Its portfolio may include agency and non-agency mortgage-backed securities, as well as other residential mortgage investments. Agency securities are generally backed or guaranteed by U.S.