Eagle Point Income Company Inc. Announces First Quarter 2022 Common and Preferred Distributions

Rhea-AI Summary

Eagle Point Income Company (NYSE: EIC) has declared three distributions of $0.12 per share on its common stock, payable on January 31, February 28, and March 31, 2022. The record dates for these distributions are January 11, February 8, and March 11, 2022, respectively. Additionally, the company announced distributions of $0.104167 per share on its Series A Term Preferred Stock, also payable on the same dates. These distributions reflect an annual rate of 5.00% on a $25 liquidation preference per share.

Positive

• Three distributions of $0.12 per share scheduled for January, February, and March 2022.
• Positive cash flow indicated by distributions derived from net investment income.

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 $0.12 per share on its common stock. The distributions are payable on each of January 31, 2022, February 28, 2022 and March 31, 2022 to stockholders of record as of January 11, 2022, February 8, 2022 and March 11, 2022, respectively. The following schedule applies to the distributions:

Record Date	Payable Date	Amount per common share
January 11, 2022	January 31, 2022	$0.12
February 8, 2022	February 28, 2022	$0.12
March 11, 2022	March 31, 2022	$0.12

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.

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 January 31, 2022, February 28, 2022 and March 31, 2022. The following schedule applies to the distributions:

Record Date	Payable Date	Amount per share of Series A Term Preferred Stock
January 11, 2022	January 31, 2022	$0.104167
February 8, 2022	February 28, 2022	$0.104167
March 11, 2022	March 31, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211110006263/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 distribution schedule for EIC in 2022?

Eagle Point Income Company has scheduled distributions of $0.12 per share on January 31, February 28, and March 31, 2022.

What is the amount of the Series A Term Preferred Stock distribution for EIC?

The distribution for the Series A Term Preferred Stock is $0.104167 per share, payable on the same dates as the common stock distributions.

When are the record dates for EIC's distributions?

The record dates for the distributions are January 11, February 8, and March 11, 2022.

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

The annual distribution rate for the Series A Term Preferred Stock is 5.00% based on a $25 liquidation preference.