EAGLE POINT CR/COM (ECC) to Issue Dividend of $0.20 on August 30th

EAGLE POINT CR/COM (NYSE:ECC) announced a dividend on Monday, July 1st, NASDAQ reports. Shareholders of record on Monday, August 12th will be paid a dividend of 0.20 per share by the investment management company on Friday, August 30th. The ex-dividend date is Friday, August 9th.

EAGLE POINT CR/COM has raised its dividend payment by an average of 0.7% annually 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%.

EAGLE POINT CR/COM stock traded down $0.28 during mid-day trading on Wednesday, reaching $17.29. The company had a trading volume of 31,186 shares, compared to its average volume of 266,868. EAGLE POINT CR/COM has a 52 week low of $12.16 and a 52 week high of $19.41. The stock’s 50 day simple moving average is $17.93. The stock has a market cap of $407.73 million, a price-to-earnings ratio of 10.87 and a beta of 0.56.

EAGLE POINT CR/COM (NYSE:ECC) last issued its quarterly earnings results on Wednesday, May 22nd. The investment management company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The business had revenue of $16.59 million for the quarter, compared to analysts’ expectations of $17.80 million. On average, equities analysts forecast that EAGLE POINT CR/COM will post 1.54 EPS for the current fiscal year.

Separately, National Securities reissued a “buy” rating and issued a $24.00 price target on shares of EAGLE POINT CR/COM in a report on Thursday, May 23rd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $24.00.

About EAGLE POINT CR/COM

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.

Further Reading: What is a Fiduciary?

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

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