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Eagle Point Income Company Inc. Announces 4% Increase in Common Stock Distributions for Second Quarter 2022

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Eagle Point Income Company (NYSE: EIC, EICA) has declared a 4% increase in its monthly common stock distribution to $0.125 per share, effective for three payments on April 29, May 31, and June 30, 2022. Record dates are set for April 11, May 11, and June 10, 2022. The company also declared distributions on its Series A Term Preferred Stock, amounting to $0.104167 per share. These distributions reflect the company's strong financial performance and confidence in its investment portfolio, which focuses on high current income and capital appreciation.

Positive
  • 4% increase in monthly common stock distribution to $0.125 per share.
  • Distributions on Series A Term Preferred Stock declared at $0.104167 per share.
  • Strong financial performance and positive outlook for investment portfolio.
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 $0.125 per share on its common stock, an increase of 4% from its previous monthly distribution rate of $0.12 per share, payable on each of April 29, 2022, May 31, 2022 and June 30, 2022 to stockholders of record as of April 11, 2022, May 11, 2022 and June 10, 2022, respectively. The following schedule applies to the distributions:

Record Date

Payable Date

Amount per common share

April 11, 2022

April 29, 2022

$0.125

May 11, 2022

May 31, 2022

$0.125

June 10, 2022

June 30, 2022

$0.125

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 our continued strong financial performance and our confidence in the outlook for our investment portfolio, we are pleased to be able to increase our monthly common distribution by 4% to $0.125 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 April 29, 2022, May 31, 2022 and June 30, 2022. The following schedule applies to the distributions:

Record Date

Payable Date

Amount per share of Series A
Term Preferred Stock

April 11, 2022

April 29, 2022

$0.104167

May 11, 2022

May 31, 2022

$0.104167

June 10, 2022

June 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 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, 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.

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 amount for Eagle Point Income Company (EIC, EICA) common stock?

Eagle Point Income Company has increased its common stock distribution to $0.125 per share.

When will the dividends for EIC shares be paid?

Dividends for EIC shares will be paid on April 29, May 31, and June 30, 2022.

What are the record dates for the EIC common stock distributions?

The record dates for the EIC common stock distributions are April 11, May 11, and June 10, 2022.

What is the distribution rate for Eagle Point Income Company's Series A Term Preferred Stock?

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

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

The annual distribution rate for the Series A Term Preferred Stock is 5.00%.

Eagle Point Income Company Inc.

NYSE:EIC

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249.79M
12.96M
24.19%
3.4%
0.1%
Asset Management
Financial Services
United States of America
Greenwich