EAGLE POINT CR/COM (NYSE:ECC) Announces Monthly Dividend of $0.20

EAGLE POINT CR/COM (NYSE:ECC) announced a monthly dividend on Tuesday, April 2nd, Wall Street Journal reports. Investors of record on Wednesday, June 12th will be paid a dividend of 0.20 per share by the investment management company on Friday, June 28th. This represents a $2.40 annualized dividend and a yield of 13.95%. The ex-dividend date of this dividend is Tuesday, June 11th.

EAGLE POINT CR/COM has raised its dividend by an average of 0.7% per year over the last three years. EAGLE POINT CR/COM has a dividend payout ratio of 142.0% 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 CR/COM to earn $1.62 per share next year, which means the company may not be able to cover its $2.40 annual dividend with an expected future payout ratio of 148.1%.

Shares of ECC stock opened at $17.20 on Monday. EAGLE POINT CR/COM has a one year low of $12.16 and a one year high of $18.87. The stock has a market cap of $406.73 million, a P/E ratio of 10.82 and a beta of 0.54.

Several brokerages recently commented on ECC. National Securities reissued a “buy” rating and set a $24.00 price objective on shares of EAGLE POINT CR/COM in a research report on Thursday, May 23rd. LADENBURG THALM/SH SH downgraded shares of EAGLE POINT CR/COM from a “buy” rating to a “neutral” rating in a research report on Friday, February 22nd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $24.00.

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EAGLE POINT CR/COM 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.

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Dividend History for EAGLE POINT CR/COM (NYSE:ECC)

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