Ellington Credit Company (EARN) to Issue Monthly Dividend of $0.08 on March 31st

Ellington Credit Company (NYSE:EARN) declared a monthly dividend on Monday, February 9th. Stockholders of record on Friday, February 27th will be given a dividend of 0.08 per share by the real estate investment trust on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 18.8%. The ex-dividend date is Friday, February 27th.

Ellington Credit has decreased its dividend payment by an average of 0.0%annually over the last three years. Ellington Credit has a 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 fall. Research analysts expect Ellington Credit to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 85.0%.

Ellington Credit Stock Performance

Shares of EARN opened at $5.12 on Wednesday. The stock has a 50 day moving average price of $5.35 and a 200 day moving average price of $5.40. Ellington Credit has a one year low of $4.32 and a one year high of $6.58. The stock has a market capitalization of $192.12 million, a price-to-earnings ratio of 63.95 and a beta of 1.27.

About Ellington Credit

Ellington Credit Income Fund (NYSE: EARN) is a closed-end management investment company that seeks to generate current income through a diversified portfolio of mortgage- and asset-backed securities. The fund primarily invests in residential mortgage-backed securities (RMBS) and asset-backed securities (ABS), with additional exposure to commercial mortgage-backed securities (CMBS) and related structured credit instruments. To enhance income and manage risk, the fund employs leverage and derivative strategies such as interest rate swaps and credit default swaps, allowing it to adjust duration and credit exposure dynamically.

The fund is externally managed and advised by Ellington Management Group, LLC, an established investment firm specializing in mortgage credit and structured products.