Eagle Point Credit Company Inc. Announces 25% Increase in Common Stock Distributions for Third Quarter 2021
13 Mai 2021 - 10:15PM
Business Wire
Eagle Point Credit Company Inc. (the “Company”) (NYSE:ECC, ECCB,
ECCW, ECCX, ECCY) today is pleased to announce the declaration of
distributions on shares of the Company’s common stock.
The Company has declared three separate distributions of $0.10
per share on its common stock, an increase of 25% from its previous
monthly distribution rate of $0.08 per share, payable on each of
July 30, 2021, August 31, 2021 and September 30, 2021 to
stockholders of record as of July 12, 2021, August 11, 2021 and
September 10, 2021, respectively. The following schedule applies to
the distributions:
Record Date
Payable Date
Amount per common share
July 12, 2021
July 30, 2021
$0.10
August 11, 2021
August 31, 2021
$0.10
September 10, 2021
September 30, 2021
$0.10
Distributions on common stock are generally paid from net
investment income (regular interest and dividends) and may also
include capital gains and/or a return of capital. The specific tax
characteristics of the distributions will be reported to the
Company’s stockholders on Form 1099 after the end of the 2021
calendar year.
“We are pleased to be able to increase our monthly distribution
by 25% to $0.10 per common share,” said Thomas Majewski, Chief
Executive Officer. “This increase underscores management’s
confidence in the Company’s future prospects.”
The Company is also pleased to announce the declaration of
distributions on shares of the Company’s 7.75% Series B Term
Preferred Stock due 2026 (the “Series B Term Preferred Stock”). The
Company has declared a distribution of $0.161459 per share on its
Series B Term Preferred Stock payable on each of July 30, 2021,
August 31, 2021 and September 30, 2021. The following schedule
applies to the distributions:
Record Date
Payable Date
Amount per share of Series B Term
Preferred Stock
July 12, 2021
July 30, 2021
$0.161459
August 11, 2021
August 31, 2021
$0.161459
September 10, 2021
September 30, 2021
$0.161459
The distributions on the Series B Term Preferred Stock reflect
an annual distribution rate of 7.75% of the $25 liquidation
preference per share of the Series B Term Preferred Stock.
ABOUT EAGLE POINT CREDIT COMPANY
The Company 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, primarily through investment in
equity and junior debt tranches of collateralized loan obligations.
The Company is externally managed and advised by Eagle Point Credit
Management LLC.
The Company makes certain unaudited portfolio information
available each month on its website in addition to making certain
other unaudited financial information available on its website
(www.eaglepointcreditcompany.com). This information includes (1) an
estimated range of the Company’s net investment income (“NII”) and
realized capital gains or losses per share of common stock for each
calendar quarter end, generally made available within the first
fifteen days after the applicable calendar month end, (2) an
estimated range of the Company’s net asset value (“NAV”) per share
of common stock for the prior month end and certain additional
portfolio-level information, generally made available within the
first fifteen days after the applicable calendar month end, and (3)
during the latter part of each month, an updated estimate of NAV,
if applicable, and, with respect to each calendar quarter end, an
updated estimate of the Company’s NII and realized capital gains or
losses per share for the applicable quarter, if available.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements other than statements of historical facts
included in this press release may constitute forward-looking
statements and are not guarantees of future performance or results
and involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including those described in the
Company’s filings with the U.S. Securities and Exchange Commission.
The Company undertakes no duty to update any forward-looking
statement made herein. All forward-looking statements speak only as
of the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20210513005940/en/
Investor and Media Relations: ICR 203-340-8510
IR@EaglePointCredit.com www.eaglepointcreditcompany.com
Eagle Point Credit (NYSE:ECCW)
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