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

Eagle Point Credit Company Inc. (NYSE:ECCGet Free Report) declared a dividend on Saturday, January 11th,investing.com reports. Stockholders 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 by an average of 13.8% annually 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. 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 Price Performance

Shares of ECC traded down $0.02 during midday trading on Friday, reaching $9.10. The stock had a trading volume of 1,163,448 shares, compared to its average volume of 927,724. Eagle Point Credit has a 12-month low of $8.56 and a 12-month high of $10.49. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average is $9.13 and its 200 day moving average is $9.62. The company has a market capitalization of $700.25 million, a price-to-earnings ratio of 11.38 and a beta of 0.75.

Wall Street Analysts Forecast Growth

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

View Our Latest Research Report on ECC

Eagle Point Credit Company Profile

(Get Free Report)

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.

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Dividend History for Eagle Point Credit (NYSE:ECC)

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