Eagle Point Credit Company Inc. (ECC) To Go Ex-Dividend on February 10th

Eagle Point Credit Company Inc. (NYSE:ECC) announced a monthly dividend on Thursday, November 7th,Wall Street Journal reports. Stockholders of record on Monday, February 10th will be paid a dividend of 0.14 per share by the investment management company on Friday, February 28th. This represents a $1.68 annualized dividend and a dividend yield of 18.76%. The ex-dividend date is Monday, February 10th.

Eagle Point Credit has increased its dividend by an average of 12.5% annually 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. Research analysts expect Eagle Point Credit to earn $1.10 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 152.7%.

Eagle Point Credit Price Performance

Shares of NYSE:ECC opened at $8.96 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27. Eagle Point Credit has a one year low of $8.56 and a one year high of $10.49. The company has a 50-day simple moving average of $8.95 and a 200-day simple moving average of $9.45. The stock has a market capitalization of $689.09 million, a price-to-earnings ratio of 11.19 and a beta of 0.75.

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 on the stock in a research report on Tuesday, January 7th.

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.