Eagle Point Income Company Inc. Declares Monthly Dividend of $0.20 (NYSE:EIC)

Eagle Point Income Company Inc. (NYSE:EIC) 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 0.20 per share on Friday, February 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 14.48%. The ex-dividend date of this dividend is Monday, February 10th.

Eagle Point Income has raised its dividend by an average of 26.3% per year over the last three years.

Eagle Point Income Trading Up 1.4 %

EIC traded up $0.23 on Thursday, hitting $16.58. 292,997 shares of the company were exchanged, compared to its average volume of 147,337. Eagle Point Income has a twelve month low of $14.14 and a twelve month high of $16.75. The firm has a 50-day moving average price of $15.89 and a two-hundred day moving average price of $15.84.

Eagle Point Income (NYSE:EIC) last released its earnings results on Tuesday, August 6th. The company reported $0.44 EPS for the quarter. The company had revenue of $10.92 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, B. Riley started coverage on Eagle Point Income in a research note on Tuesday, September 3rd. They set a “buy” rating and a $17.50 target price for the company.

Eagle Point Income Company Profile

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.