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Eagle Point Credit Co Inc. (NYSE:ECC), with a market capitalization of $850 million, reported in a recent SEC filing that its estimated net asset value (NAV) per share of common stock as of January 31, 2025, ranged between $8.28 and $8.38. According to InvestingPro, the stock currently trades near its 52-week low of $8.56, suggesting potential value opportunity. The Greenwich, Connecticut-based investment company also declared monthly distributions of $0.14 per share on its common stock, scheduled for the end of April, May, and June 2025.
The distributions are set to be paid on April 30, May 30, and June 30, with record dates of April 10, May 12, and June 10, respectively. This announcement follows Eagle Point Credit’s regular practice of providing monthly income to its shareholders.
The company, which is incorporated in Delaware and operates under the Investment Company Act of 1940, specializes in credit investments. Eagle Point Credit’s portfolio typically includes various debt securities and equity interests, which are managed with the aim of generating high levels of income while preserving capital. The company maintains strong liquidity with a current ratio of 2.27 and has demonstrated robust revenue growth of 28.3% over the last twelve months.
The declared dividends are part of Eagle Point Credit’s ongoing strategy to return value to its stockholders. The company’s shares, along with its multiple series of preferred stock and notes, are traded on the New York Stock Exchange under various ticker symbols, including ECC for its common stock.
This information, based on a press release statement, indicates the company’s performance and financial position at the end of January and its commitment to consistent shareholder distributions. Investors often look to such disclosures for insights into a company’s financial health and its ability to sustain or increase dividend payments.
In other recent news, Eagle Point Credit Co Inc. disclosed its unaudited net asset value (NAV) per share and quarterly earnings for the period ending December 31, 2024. The NAV per share ranged from $8.33 to $8.43, with estimated net investment income between $0.23 and $0.27 per share. The company also reported estimated realized losses between $0.14 and $0.10 per share. Additionally, Eagle Point Credit successfully closed a $100 million offering of 7.75% notes due 2030, with an option for underwriters to purchase an additional $15 million in notes. These notes are expected to rank senior to the company’s common and preferred stock upon liquidation. In a recent development, Lucid (NASDAQ:LCID) Capital Markets initiated a Buy rating on Eagle Point Credit shares, highlighting the management team’s expertise and the company’s unique investment strategy. The firm set a price target of $9.50, suggesting potential for price-to-NAV multiple expansion in the short to medium term. These developments provide a snapshot of Eagle Point Credit’s recent financial performance and market positioning.
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