ECCW Eagle Point Credit Company Inc

Eagle Point Credit Company Inc. (the “Company”) (NYSE:ECC, ECCC, ECC PRD, ECCV, ECCW, ECCX) 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 $0.14 per share on its common stock, an increase of 17% from its previous monthly distribution rate of $0.12 per share, payable on each of April 29, 2022, May 31, 2022 and June 30, 2022 to stockholders of record as of April 11, 2022, May 11, 2022 and June 10, 2022, respectively. The following schedule applies to the distributions:

 

Amount per common share

   

Record Date

   

Payable Date

   

$0.14

   

April 11, 2022

   

April 29, 2022

   

$0.14

   

May 11, 2022

   

May 31, 2022

   

$0.14

   

June 10, 2022

   

June 30, 2022

 

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 2022 calendar year.

“We are pleased to be able to increase our monthly distribution by 17% to $0.14 per common share,” said Thomas Majewski, Chief Executive Officer. “This further underscores the continued strength of our financial performance and our confidence in the Company’s investment portfolio and future prospects.”

The Company is also pleased to announce the declaration of distributions on shares of the Company’s 6.50% Series C Term Preferred Stock due 2031 (the “Series C Term Preferred Stock”) and the Company’s 6.75% Series D Preferred Stock (the “Series D Preferred Stock”) as follows:

 

Preferred Stock Type

   

Amount per Share of Preferred Stock

   

Record Dates

   

Payable Dates

   

6.50% Series C Term

Preferred Stock due 2031

   

$0.135417

   

April 11, 2022, May

11, 2022, June 10, 2022

   

April 29, 2022, May 31,

2022, June 30, 2022

   

6.75% Series D Preferred

Stock

   

$0.140625

   

April 11, 2022, May

11, 2022, June 10, 2022

   

April 29, 2022, May 31,

2022, June 30, 2022

 

The distributions on the Series C Term Preferred Stock reflect an annual distribution rate of 6.50% of the $25 liquidation preference per share of the Series C Term Preferred Stock. The distributions on the Series D Preferred Stock reflect an annual distribution rate of 6.75% of the $25 liquidation preference per share of the Series D 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 by investing 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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Investor and Media Relations: ICR 203-340-8510 IR@EaglePointCredit.com www.eaglepointcreditcompany.com