EAGLE POINT CR/COM (NYSE:ECC) Declares $0.20 Monthly Dividend
EAGLE POINT CR/COM (NYSE:ECC) announced a monthly dividend on Tuesday, October 1st, Zacks reports. Shareholders of record on Friday, October 11th will be given a dividend of 0.20 per share by the investment management company on Thursday, October 31st. This represents a $2.40 annualized dividend and a yield of 14.98%. The ex-dividend date is Thursday, October 10th.
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 payout ratio of 142.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect EAGLE POINT CR/COM to earn $1.52 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 157.9%.
NYSE ECC traded up $0.18 on Thursday, hitting $16.02. The company’s stock had a trading volume of 3,543 shares, compared to its average volume of 251,178. EAGLE POINT CR/COM has a 52-week low of $12.16 and a 52-week high of $19.41. The company’s 50-day simple moving average is $16.24 and its 200 day simple moving average is $17.16. The firm has a market cap of $380.88 million, a P/E ratio of 10.14 and a beta of 0.59.
Separately, ValuEngine raised EAGLE POINT CR/COM from a “sell” rating to a “hold” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. EAGLE POINT CR/COM presently has an average rating of “Hold” and an average 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.
Featured Article: What are economic reports?
Receive News & Ratings for EAGLE POINT CR/COM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EAGLE POINT CR/COM and related companies with MarketBeat.com's FREE daily email newsletter.