Eagle Point Income Company Inc. Announces Increase in Common Stock Distributions for Third Quarter 2021

Rhea-AI Summary

The Eagle Point Income Company (NYSE:EIC) has declared a 5.9% increase in its monthly distribution rate, raising it to $0.09 per share from $0.085. Three distributions are scheduled for July 30, August 31, and September 30, 2021, with record dates on July 12, August 11, and September 10, 2021, respectively. The increase in distributions reflects strong portfolio performance, as indicated by CEO Thomas Majewski. Distributions primarily stem from net investment income and may also include capital gains or return of capital.

Positive

• Distribution increase of 5.9% from $0.085 to $0.09 per share.
• Strong portfolio performance as indicated by the management.

Negative

• None.

Eagle Point Income Company Inc. (the “Company”) (NYSE:EIC) 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 $0.09 per share on its common stock, an increase of 5.9% from its previous monthly distribution rate of $0.085 per share. The distributions are payable on each of July 30, 2021, August 31, 2021 and September 30, 2021 to stockholders of record as of July 12, 2021, August 11, 2021 and September 10, 2021, respectively. The following schedule applies to the distributions:

	Record Date			Payable Date			Amount per common share
	July 12, 2021			July 30, 2021			$0.09
	August 11, 2021			August 31, 2021			$0.09
	September 10, 2021			September 30, 2021			$0.09

“We are pleased to be able to increase our monthly distribution to $0.09 per common share,” said Thomas Majewski, Chairman and Chief Executive Officer. “This is our second increase and reflects the continued strong performance of the Company’s portfolio.”

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 2021 calendar year.

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 collateralized loan obligations (“CLOs”). In addition, the Company may invest up to 25% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments. 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 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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FAQ

What is the new distribution rate for Eagle Point Income Company (EIC)?

The new distribution rate for Eagle Point Income Company (EIC) is $0.09 per share, which is a 5.9% increase from the previous rate.

When are the distribution payments for EIC scheduled?

The distribution payments for Eagle Point Income Company (EIC) are scheduled for July 30, August 31, and September 30, 2021.

What are the record dates for the upcoming distributions for EIC?

The record dates for the upcoming distributions for Eagle Point Income Company (EIC) are July 12, August 11, and September 10, 2021.

How does Eagle Point Income Company (EIC) generate its distributions?

Eagle Point Income Company (EIC) generates its distributions primarily from net investment income, regular interest, dividends, and may also include capital gains or return of capital.