Eagle Point Credit Company Inc. to Issue Dividend of $0.14 (NYSE:ECC)

Eagle Point Credit Company Inc. (NYSE:ECC) announced a dividend on Saturday, January 11th,investing.com reports. Investors of record on Tuesday, January 14th will be given a dividend of 0.14 per share by the investment management company on Friday, January 31st. This represents a dividend yield of 18.44%. The ex-dividend date is Monday, January 13th.

Eagle Point Credit has increased its dividend payment by an average of 13.8% per year over the last three years. Eagle Point Credit has a dividend payout ratio of 157.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Eagle Point Credit to earn $1.31 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 128.2%.

Eagle Point Credit Stock Performance

ECC traded down $0.02 during midday trading on Friday, hitting $9.10. 1,163,448 shares of the company traded hands, compared to its average volume of 927,724. The company’s 50-day moving average is $9.13 and its 200 day moving average is $9.62. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $700.25 million, a PE ratio of 11.38 and a beta of 0.75. Eagle Point Credit has a 52 week low of $8.56 and a 52 week high of $10.49.

Analysts Set New Price Targets

Separately, B. Riley decreased their target price on shares of Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday.

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.