Eagle Point Credit Company Inc. Announces Third Quarter 2015 Preferred Distributions

GREENWICH, Conn.--()--Eagle Point Credit Company Inc. (the “Company”) (NYSE:ECC, NYSE:ECCA) today is pleased to announce the declaration of distributions on shares of the Company’s 7.75% Series A Term Preferred Stock due 2022 (the “Series A Preferred Stock”).

The Company has declared a distribution of $0.161459 per share on its Series A Preferred Stock, payable on each of July 31, 2015, August 31, 2015 and September 30, 2015. The following schedule applies to the distributions:

Ex-Dividend Date     Record Date     Payable Date    

Amount per share of
Series A Preferred Stock

 

July 13, 2015     July 15, 2015     July 31, 2015     $0.161459
August 13, 2015     August 17, 2015     August 31, 2015     $0.161459
September 11, 2015     September 15, 2015     September 30, 2015     $0.161459

The distribution on the Series A Preferred Stock reflects an annual distribution rate of 7.75% of the $25 liquidation preference per share of the Series A Preferred Stock for each of July, August and September.

Chief Executive Officer Thomas Majewski commented, “The Company’s portfolio continues to perform well and has generated approximately $17.1 million (or $1.24 per common share) of cash distributions in the second quarter of 2015.”

Chief Financial Officer Ken Onorio commented, “The Company is pleased to announce distributions to the holders of our Series A Preferred Stock for the full third quarter of 2015, as contemplated.”

Distributions are generally expected to be paid from net investment income (regular interest and dividends) but 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 preferred stockholders on Form 1099 after the end of the 2015 calendar year.

ABOUT EAGLE POINT CREDIT COMPANY

The Company is a publicly-traded, non-diversified, closed-end management investment company. The Company’s investment objective is to generate high current income and capital appreciation primarily through investment in equity and junior debt tranches of collateralized loan obligations. The Company is externally managed and advised by Eagle Point Credit Management LLC. The principals of Eagle Point Credit Management LLC are Thomas P. Majewski, Daniel W. Ko and Daniel M. Spinner.

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 SEC. 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.

Source: Eagle Point Credit Company Inc.

Contacts

Eagle Point Credit Company Inc.
Investor Relations:
Kenneth P. Onorio, 203-340-8500
Chief Financial Officer
IR@EaglePointCredit.com
www.eaglepointcreditcompany.com

Contacts

Eagle Point Credit Company Inc.
Investor Relations:
Kenneth P. Onorio, 203-340-8500
Chief Financial Officer
IR@EaglePointCredit.com
www.eaglepointcreditcompany.com