Eagle Point Credit Company Inc. Announces First Quarter 2016 Preferred Distributions
January 04 2016 - 6:34PM
Business Wire
Eagle Point Credit Company Inc. (the “Company”) (NYSE:ECC,
NYSE:ECCA, NYSE:ECCZ) today is pleased to announce the declaration
of distributions on shares of the Company’s 7.75% Series A Term
Preferred Stock due 2022 (the “Series A Preferred Stock”).
The Company has declared a distribution of $0.161459 per share
on its Series A Preferred Stock, payable on each of January 29,
2016, February 29, 2016 and March 31, 2016. The following schedule
applies to the distributions:
Ex-Dividend Date Record Date
Payable Date
Amount per share ofSeries A Preferred
Stock
January 13, 2016 January 15, 2016
January 29, 2016 $0.161459 February 11, 2016
February 16, 2016 February 29, 2016
$0.161459 March 11, 2016 March 15, 2016
March 31, 2016 $0.161459
The distributions on the Series A Preferred Stock reflects an
annual distribution rate of 7.75% of the $25 liquidation preference
per share of the Series A Preferred Stock for each of January,
February and March.
Distributions are generally expected to be paid from net
investment income (regular interest and dividends) but 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 preferred stockholders on Form 1099 after the end of the
2016 calendar year.
ABOUT EAGLE POINT CREDIT COMPANY
The Company is a non-diversified, closed-end management
investment company. The Company’s investment objectives are to
generate high current income and 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 principals of
Eagle Point Credit Management LLC are Thomas P. Majewski, Daniel W.
Ko and Daniel M. Spinner. 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).
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 SEC. 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.
Source: Eagle Point Credit Company Inc.
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version on businesswire.com: http://www.businesswire.com/news/home/20160104006577/en/
Investor Relations:Eagle Point Credit Company Inc.Kenneth P.
Onorio, 203-340-8500Chief Financial
OfficerIR@EaglePointCredit.comwww.eaglepointcreditcompany.com
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