Eagle Point Institutional Income Fund Announces Upcoming Preferred Share Distributions

Rhea-AI Summary

Eagle Point Institutional Income Fund has announced distributions for its 8.125% Series A Term Preferred Shares (NYSE: EIIA) due 2029. The fund declared five distributions with the first payment of $0.242622 per share scheduled for November 29, 2024, followed by four payments of $0.169271 per share from December 2024 through March 2025. These distributions reflect an annual distribution rate of 8.125% based on the $25 liquidation preference per share.

Positive

• Fixed income distributions scheduled through March 2025 providing predictable returns
• 8.125% annual distribution rate on $25 liquidation preference

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• None.

Insights

Financial Analyst

This announcement details predictable preferred share distributions from Eagle Point Institutional Income Fund, with a fixed 8.125% annual rate on a $25 liquidation preference. The distributions, spanning from November 2024 to March 2025, are routine and expected. The first payment is higher at $0.242622 per share, while subsequent monthly payments stabilize at $0.169271. While these distributions provide steady income for preferred shareholders, they represent standard operations rather than any significant change in the fund's performance or strategy.

GREENWICH, Conn.--(BUSINESS WIRE)-- Eagle Point Institutional Income Fund (the “Fund”) is pleased to announce the declaration of distributions on shares of the Fund’s 8.125% Series A Term Preferred Shares due 2029 (the “Preferred Shares”). The Preferred Shares trade on the New York Stock Exchange (NYSE: EIIA). To date, the Fund has declared the following distributions per Preferred Share:

Amount per Preferred Share	Record Date	Payable Date
$0.242622	11/12/2024	11/29/2024
$0.169271	12/11/2024	12/31/2024
$0.169271	1/13/2025	1/31/2025
$0.169271	2/10/2025	2/28/2025
$0.169271	3/11/2025	3/31/2025

The distributions on the Preferred Shares reflect an annual distribution rate of 8.125% of the $25 liquidation preference per share.

ABOUT EAGLE POINT INSTITUTIONAL INCOME FUND

The Fund is a non-diversified closed-end management investment company. The Fund’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in equity and junior debt tranches of collateralized loan obligations. The Fund is externally managed and advised by Eagle Point Credit Management LLC. The Fund’s common shares of beneficial interest are not listed on any securities exchange.

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 Fund’s other filings with the SEC. The Fund 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/20241107715884/en/

Investor Relations:

203-340-8560

EPIIF@EaglePointCredit.com

www.epiif.com

Source: Eagle Point Institutional Income Fund

FAQ

What is the distribution rate for Eagle Point Institutional Income Fund's Series A Preferred Shares (EIIA)?

The Series A Preferred Shares (EIIA) have an annual distribution rate of 8.125% based on the $25 liquidation preference per share.

When is the next distribution payment date for EIIA preferred shares?

The next distribution payment of $0.242622 per share is scheduled for November 29, 2024, with a record date of November 12, 2024.

How many distributions has EIIA announced for 2024-2025?

EIIA has announced five distributions spanning from November 2024 to March 2025, with one payment of $0.242622 and four payments of $0.169271 per share.