Eagle Point Credit Company Inc. (ECC) Declares Monthly Dividend of $0.20
Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Tuesday, October 3rd, Wall Street Journal reports. Stockholders of record on Friday, November 10th will be paid a dividend of 0.20 per share by the investment management company on Thursday, November 30th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 11.43%. The ex-dividend date is Thursday, November 9th.
Shares of Eagle Point Credit (NYSE ECC) traded up 0.0949% on Tuesday, hitting $20.9899. The company had a trading volume of 41,003 shares. The company has a 50-day moving average of $20.65 and a 200 day moving average of $20.43. Eagle Point Credit has a 12 month low of $16.13 and a 12 month high of $22.11.
Eagle Point Credit (NYSE:ECC) last issued its quarterly earnings results on Tuesday, August 15th. The investment management company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.02. The firm had revenue of $16.23 million for the quarter, compared to the consensus estimate of $16.60 million. Equities analysts expect that Eagle Point Credit will post $2.04 earnings per share for the current year.
ECC has been the subject of several recent analyst reports. Zacks Investment Research upgraded Eagle Point Credit from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. National Securities reaffirmed a “buy” rating and issued a $24.00 target price on shares of Eagle Point Credit in a report on Wednesday, August 2nd. Finally, Ladenburg Thalmann Financial Services initiated coverage on Eagle Point Credit in a research note on Monday, September 25th. They issued a “buy” rating and a $20.50 price target on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $22.83.
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About Eagle Point Credit
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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