Eagle Point Credit Company Inc. (ECC) to Issue $0.20 Monthly Dividend

Eagle Point Credit Company Inc. (NYSE:ECC) announced a monthly dividend on Monday, June 5th, Wall Street Journal reports. Investors of record on Thursday, July 13th will be given a dividend of 0.20 per share by the investment management company on Monday, July 31st. This represents a $2.40 dividend on an annualized basis and a yield of 11.56%. The ex-dividend date is Tuesday, July 11th.

Eagle Point Credit Company (NYSE ECC) traded down 0.24% during trading on Tuesday, hitting $20.71. The stock had a trading volume of 18,074 shares. The company has a 50 day moving average of $20.10 and a 200-day moving average of $18.89. Eagle Point Credit Company has a 12-month low of $15.72 and a 12-month high of $22.11.

Dividend History for Eagle Point Credit Company (NYSE:ECC)

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Several equities research analysts have weighed in on the company. National Securities restated a “buy” rating and set a $24.00 target price on shares of Eagle Point Credit Company in a research note on Wednesday, May 24th. CIBC assumed coverage on Eagle Point Credit Company in a research note on Tuesday, May 16th. They set an “outperform” rating for the company. Finally, Oppenheimer Holdings, Inc. assumed coverage on Eagle Point Credit Company in a research note on Tuesday, May 16th. They set an “outperform” rating and a $24.00 target price for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Eagle Point Credit Company has an average rating of “Buy” and a consensus target price of $21.00.

Eagle Point Credit Company Company Profile

Eagle Point Credit Company Inc 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. The Company primarily invests in equity and junior debt tranches of collateralized loan obligations (CLOs) that are collateralized by a portfolio consisting primarily of the below investment grade United States senior secured loans.

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