Eagle Point Credit Company Inc. (ECC) To Go Ex-Dividend on March 11th

Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Friday, November 8th, Wall Street Journal reports. Investors of record on Tuesday, March 11th will be given a dividend of 0.14 per share by the investment management company on Monday, March 31st. This represents a $1.68 annualized dividend and a yield of 19.12%. The ex-dividend date of this dividend is Tuesday, March 11th.

Eagle Point Credit has increased its dividend payment by an average of 14.0% annually over the last three years. Eagle Point Credit has a payout ratio of 166.3% indicating that 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 Trading Down 0.4 %

ECC opened at $8.79 on Friday. Eagle Point Credit has a 12 month low of $8.56 and a 12 month high of $10.49. The stock has a market capitalization of $676.14 million, a price-to-earnings ratio of 10.46 and a beta of 0.73. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. The business has a fifty day moving average price of $8.82 and a 200 day moving average price of $9.28.

Eagle Point Credit (NYSE:ECC) last released its earnings results on Thursday, February 20th. The investment management company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). Eagle Point Credit had a return on equity of 12.53% and a net margin of 44.67%. The company had revenue of $49.55 million for the quarter, compared to analyst estimates of $49.76 million. Sell-side analysts expect that Eagle Point Credit will post 1.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, B. Riley lowered their price objective on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th.

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.