Eagle Point Income Company Inc. Announces 12% Increase in Common Stock Distributions for Fourth Quarter 2022

Rhea-AI Summary

Eagle Point Income Company has declared distributions for its common stock, increasing the amount to $0.14 per share, a 12% rise from the previous $0.125. These distributions will be paid on October 31, November 30, and December 30, 2022. Shareholders of record will be notified accordingly. The company also announced distributions for its 5.00% Series A Term Preferred Stock, set at $0.104167 per share for the same payment dates. The distributions stem from net investment income and may include capital gains.

Positive

• 12% increase in monthly common stock distribution to $0.14 per share.
• Consistent payout schedule for distributions on common stock and preferred stock.
• Distributions reflect an annual rate of 5.00% for preferred stock.

Negative

• None.

GREENWICH, Conn.--(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.

View source 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

Source: Eagle Point Income Company Inc.

FAQ

What is the new distribution rate for Eagle Point Income Company's common stock?

The new distribution rate is $0.14 per share, a 12% increase from $0.125.

When will Eagle Point Income Company distribute its common stock dividends?

Distributions will be paid on October 31, November 30, and December 30, 2022.

What is the distribution for the Series A Term Preferred Stock?

The distribution for the Series A Term Preferred Stock is $0.104167 per share.

What are the record dates for the upcoming distributions?

The record dates are October 11, November 10, and December 12, 2022.

How does Eagle Point Income Company generate its distributions?

Distributions are paid from net investment income, which includes regular interest and dividends, and may also include capital gains.