Eagle Point Credit Company Inc. Announces First Quarter 2021 Common and Preferred Distributions

Rhea-AI Summary

Eagle Point Credit Company (NYSE:ECC) announced three distributions of $0.08 per share on common stock, scheduled for January 29, February 26, and March 31, 2021, with record dates preceding each payment. Additionally, distributions of $0.161459 per share on its 7.75% Series B Term Preferred Stock due 2026 will also be paid on the same dates. The common stock distributions are derived from net investment income and may include capital gains or return of capital. Full tax characteristics will be reported on Form 1099 post-2020 calendar year.

Positive

• Declared consistent distributions of $0.08 per share on common stock for three consecutive months.
• Announced distributions of $0.161459 per share on 7.75% Series B Term Preferred Stock, indicating strong income generation.

Negative

• None.

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 Term Preferred Stock
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.