Eagle Point Income Company Inc. Announces 12% Increase in Common Stock Distributions for Fourth Quarter 2022
12 August 2022 - 6:05AM
Business Wire
Eagle Point Income Company Inc. (the “Company”) (NYSE: EIC,
EICA) 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 $0.14
per share on its common stock, an increase of 12% from its previous
monthly distribution of $0.125 per share, payable on each of
October 31, 2022, November 30, 2022 and December 30, 2022 to
stockholders of record as of October 11, 2022, November 10, 2022
and December 12, 2022, respectively. The following schedule applies
to the distributions:
Record Date
Payable Date
Amount per common share
October 11, 2022
October 31, 2022
$0.14
November 10, 2022
November 30, 2022
$0.14
December 12, 2022
December 30, 2022
$0.14
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 2022
calendar year.
“Given the continued increase in interest rates, we are very
pleased to increase our monthly common distribution by 12% to $0.14
per common share,” said Thomas Majewski, Chairman and Chief
Executive Officer.
The Company is also pleased to announce the declaration of
distributions on shares of the Company’s 5.00% Series A Term
Preferred Stock due 2026 (the “Series A Term Preferred Stock”). The
Company has declared a distribution of $0.104167 per share on its
Series A Term Preferred Stock payable on each of October 31, 2022,
November 30, 2022 and December 30, 2022. The following schedule
applies to the distributions:
Record Date
Payable Date
Amount per share of Series A Term
Preferred Stock
October 11, 2022
October 31, 2022
$0.104167
November 10, 2022
November 30, 2022
$0.104167
December 12, 2022
December 30, 2022
$0.104167
The distributions on the Series A Term Preferred Stock reflect
an annual distribution rate of 5.00% of the $25 liquidation
preference per share of the Series A Term Preferred Stock.
ABOUT EAGLE POINT INCOME COMPANY
The Company is a 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, by investing primarily in junior debt tranches of
CLOs. In addition, the Company may invest up to 35% of its total
assets (at the time of investment) in CLO equity securities. The
Company is externally managed and advised by Eagle Point Income
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.eaglepointincome.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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220811005673/en/
Investor and Media Relations: ICR 203-340-8510
IR@EaglePointIncome.com www.eaglepointincome.com
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