Eagle Point Credit Company Inc. Announces Fourth Quarter 2019 Common and Preferred Distributions
October 01 2019 - 4:30PM
Business Wire
Eagle Point Credit Company Inc. (the “Company”) (NYSE:ECC, ECCA,
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 $0.20
per share on its common stock, payable on each of October 31, 2019,
November 29, 2019 and December 31, 2019 to stockholders of record
as of October 11, 2019, November 12, 2019 and December 12, 2019,
respectively. The following schedule applies to the
distributions:
Record Date
Payable Date
Amount per common share
October 11, 2019
October 31, 2019
$0.20
November 12, 2019
November 29, 2019
$0.20
December 12, 2019
December 31, 2019
$0.20
The Company is also pleased to announce the declaration of
distributions on shares of the Company’s 7.75% Series A Term
Preferred Stock due 2022 and 7.75% Series B Term Preferred Stock
due 2026 (collectively, the “Preferred Stock”).
The Company has declared a distribution of $0.161459 per share
on its Preferred Stock, payable on each of October 31, 2019,
November 29, 2019 and December 31, 2019. The following schedule
applies to the distributions:
Record Date
Payable Date
Amount per share of Preferred
Stock
October 11, 2019
October 31, 2019
$0.161459
November 12, 2019
November 29, 2019
$0.161459
December 12, 2019
December 31, 2019
$0.161459
The distributions on the Preferred Stock reflect an annual
distribution rate of 7.75% of the $25 liquidation preference per
share of the Preferred Stock for each of October, November and
December.
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 2019
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 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 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 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
(“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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191001006061/en/
Investor and Media Relations: ICR 203-340-8510
IR@EaglePointCredit.com www.eaglepointcreditcompany.com
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