Eagle Point Credit Company Inc. (NYSE:ECC) Plans $0.16 — Dividend

Eagle Point Credit Company Inc. (NYSE:ECC) declared a — dividend on Thursday, August 1st, Wall Street Journal reports. Investors of record on Friday, October 11th will be paid a dividend of 0.16 per share by the investment management company on Thursday, October 31st. This represents a yield of 17%. The ex-dividend date is Friday, October 11th.

Eagle Point Credit has increased its dividend by an average of 87.7% per year over the last three years. Eagle Point Credit has a payout ratio of 125.4% meaning 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 $1.37 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 122.6%.

Eagle Point Credit Stock Performance

ECC stock traded up $0.22 on Tuesday, reaching $9.84. The company’s stock had a trading volume of 819,158 shares, compared to its average volume of 826,957. Eagle Point Credit has a 52 week low of $8.60 and a 52 week high of $10.58. The company has a market capitalization of $757.19 million, a P/E ratio of 5.28 and a beta of 0.77. The firm has a fifty day moving average of $10.08 and a two-hundred day moving average of $10.08. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.55 and a quick ratio of 4.55.

Eagle Point Credit (NYSE:ECC) last released its earnings results on Tuesday, May 21st. The investment management company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). The firm had revenue of $40.81 million during the quarter, compared to analyst estimates of $42.30 million. Eagle Point Credit had a return on equity of 13.48% and a net margin of 88.90%. As a group, analysts predict that Eagle Point Credit will post 1.34 EPS for the current fiscal year.

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.