Eagle Point Credit Company Inc. Announces First Quarter 2021 Common and Preferred Distributions
GREENWICH, Conn.–(BUSINESS WIRE)–
Eagle Point Credit Company Inc. (the “Company”) (NYSE:ECC, ECCB, 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 $0.08 per share on its common stock, payable on each of January 29, 2021, February 26, 2021 and March 31, 2021 to stockholders of record as of January 12, 2021, February 12, 2021 and March 12, 2021, respectively. The following schedule applies to the distributions:
|
Record Date |
Payable Date |
Amount per common share |
|
January 12, 2021 |
January 29, 2021 |
$0.08 |
|
February 12, 2021 |
February 26, 2021 |
$0.08 |
|
March 12, 2021 |
March 31, 2021 |
$0.08 |
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 2020 calendar year.
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 January 29, 2021, February 26, 2021 and March 31, 2021. The following schedule applies to the distributions:
|
Record Date |
Payable Date |
Amount per share of Series B |
|
January 12, 2021 |
January 29, 2021 |
$0.161459 |
|
February 12, 2021 |
February 26, 2021 |
$0.161459 |
|
March 12, 2021 |
March 31, 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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Investor and Media Relations:
ICR
203-340-8510
[email protected]
www.eaglepointcreditcompany.com
KEYWORDS: United States North America Connecticut
INDUSTRY KEYWORDS: Banking Professional Services Finance
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