Eagle Point Credit Company Inc. Announces First Quarter 2024 Regular and Supplemental Common Distributions and Preferred Distributions
09 November 2023 - 9:25AM
Business Wire
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 monthly regular
distributions of $0.14 per share on its common stock, payable on
each of January 31, 2024, February 29, 2024 and March 28, 2024 to
stockholders of record as of January 11, 2024, February 9, 2024 and
March 8, 2024, respectively. Additionally, the Company is pleased
to announce the declaration of a monthly supplemental distribution
of $0.02 per share, payable on each of January 31, 2024, February
29, 2024 and March 28, 2024 to stockholders of record as of January
11, 2024, February 9, 2024 and March 8, 2024, respectively.
The following schedule applies to the distributions:
Distribution
Amount per common share
Record Date
Payable Date
Regular
$0.14
January 11, 2024
January 31, 2024
Supplemental
$0.02
January 11, 2024
January 31, 2024
Regular
$0.14
February 9, 2024
February 29, 2024
Supplemental
$0.02
February 9, 2024
February 29, 2024
Regular
$0.14
March 8, 2024
March 28, 2024
Supplemental
$0.02
March 8, 2024
March 28, 2024
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 2024
calendar year.
The declared supplemental distributions relate to the excess of
the Company’s estimated taxable income for the tax year ended
November 30, 2023 over the aggregate amount distributed to common
stockholders for the same time period. In the event any future
supplemental distributions are declared, amounts may vary.1
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
January 11, 2024, February 9,
2024, March 8, 2024
January 31, 2024, February 29,
2024, March 28, 2024
6.75% Series D Preferred
Stock
$0.140625
January 11, 2024, February 9,
2024, March 8, 2024
January 31, 2024, February 29,
2024, March 28, 2024
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
prospectus and the Company’s other 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.
__________________________ 1 The ability of the Company to
declare and pay distributions is subject to a number of factors,
including the Company’s results of operations. All or a portion of
any distribution paid by the Company may consist of a return of
capital. The actual components of the Company’s distributions for
U.S. tax reporting purposes can only be finally determined as of
the end of each fiscal year of the Company and are thereafter
reported on Form 1099-DIV.
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version on businesswire.com: https://www.businesswire.com/news/home/20231108562010/en/
Investor and Media Relations: ICR 203-340-8510
IR@EaglePointCredit.com www.eaglepointcreditcompany.com
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