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

Eagle Point Credit Company Inc. (NYSE:ECC) declared a dividend on Wednesday, November 6th,NASDAQ Dividends reports. Stockholders of record on Monday, January 13th will be given a dividend of 0.14 per share by the investment management company on Friday, January 31st. The ex-dividend date of this dividend 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 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. 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

NYSE:ECC opened at $9.10 on Friday. The firm’s 50-day moving average is $9.13 and its 200-day moving average is $9.62. Eagle Point Credit has a 52-week low of $8.56 and a 52-week high of $10.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27. The company has a market cap of $700.25 million, a price-to-earnings ratio of 11.38 and a beta of 0.75.

Analyst Ratings Changes

Separately, B. Riley dropped their price objective on shares of Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday.

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.