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

Posted by Denise Davis on Jan 13th, 2025

Eagle Point Credit Company Inc. (NYSE:ECC – Get Free Report) declared a dividend on Monday, January 13th,investing.com reports. Shareholders of record on Tuesday, January 14th will be paid a dividend of 0.14 per share by the investment management company on Friday, January 31st. This represents a yield of 18.88%. The ex-dividend date of this dividend is Monday, January 13th.

Eagle Point Credit has increased its dividend payment by an average of 13.8% per year over the last three years. Eagle Point Credit has a dividend 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. 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 Stock Down 2.2 %

ECC stock traded down $0.20 during trading on Monday, reaching $8.91. 780,132 shares of the stock were exchanged, compared to its average volume of 907,135. The firm has a market cap of $685.61 million, a P/E ratio of 11.14 and a beta of 0.75. The firm’s 50 day moving average is $9.13 and its 200 day moving average is $9.61. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. Eagle Point Credit has a twelve month low of $8.56 and a twelve month high of $10.49.

Analyst Upgrades and Downgrades

Separately, B. Riley reduced their target price on shares of Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th.

Get Our Latest Stock 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.