Eagle Point Credit Company Inc. (NYSE:ECC – Get Free Report) announced a monthly dividend on Thursday, August 13th. Investors of record on Tuesday, November 10th will be paid a dividend of 0.06 per share by the investment management company on Monday, November 30th. This represents a c) annualized dividend and a yield of 18.6%. The ex-dividend date of this dividend is Tuesday, November 10th.
Eagle Point Credit has increased its dividend by an average of 0.1%per year over the last three years. Eagle Point Credit has a dividend payout ratio of 136.2% 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 Credit to earn $0.71 per share next year, which means the company may not be able to cover its $1.28 annual dividend with an expected future payout ratio of 180.3%.
Eagle Point Credit Price Performance
ECC opened at $3.88 on Friday. The stock’s 50 day simple moving average is $3.78 and its 200 day simple moving average is $4.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.23 and a quick ratio of 0.23. Eagle Point Credit has a 1 year low of $3.46 and a 1 year high of $7.77. The firm has a market cap of $512.31 million, a price-to-earnings ratio of 5.78 and a beta of 0.36.
Eagle Point Credit News Summary
Here are the key news stories impacting Eagle Point Credit this week:
- Positive Sentiment: ECC declared monthly common-stock dividends of $0.06 per share for October, November and December, implying $0.72 in annualized distributions and an indicated yield of approximately 18.6% at the referenced share price. The recurring payout can support demand from income-oriented investors. Eagle Point Credit Company stock information
- Neutral Sentiment: The company’s 6.75% Series D preferred stock declared a $0.1406 per-share dividend. This reinforces ECC’s ongoing distribution commitments but applies to the preferred security rather than directly increasing the common-stock dividend. Eagle Point Credit Series D preferred dividend
- Negative Sentiment: Second-quarter EPS was $0.17, below the $0.18 consensus estimate, while revenue of $37.9 million trailed expectations of $41.62 million. The company also reported a negative 1.09% return on equity and a negative 87.16% net margin, potentially limiting enthusiasm despite the attractive payout. Eagle Point Credit earnings report
- Negative Sentiment: Net investment income declined amid portfolio repositioning, suggesting that changes to the investment portfolio are weighing on near-term earnings generation. Investors may focus on whether repositioning improves future income and supports the sustainability of ECC’s unusually high dividend yield. Eagle Point Credit second-quarter net investment income report
Eagle Point Credit Company Profile
Eagle Point Credit Company is a closed-end, non-diversified management investment company that seeks to generate attractive risk-adjusted returns primarily through investments in collateralized loan obligations (CLOs) and related structured credit instruments. The firm is externally managed by Eagle Point Credit Management, LLC, a specialized credit asset manager focused on the structured credit markets. Eagle Point Credit Company’s shares trade on the New York Stock Exchange under the ticker symbol ECC.
The company’s investment strategy centers on acquiring both equity and debt tranches of actively managed CLOs alongside opportunistic positions in senior secured loans, high-yield bonds and credit derivatives.
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