GREENWICH, Conn.--(BUSINESS WIRE)--Eagle Point Credit Company Inc. (the “Company”) (NYSE:ECC, NYSE:ECCA, NYSE:ECCB, NYSE:ECCZ) is pleased to announce the declaration of distributions on shares of the Company’s 7.75% Series A Term Preferred Stock due 2022 and 7.75% Series B Term Preferred Stock due 2026 (collectively, the “Preferred Stock”).
The Company has declared a distribution of $0.161459 per share on its Preferred Stock, payable on each of April 28, 2017, May 31, 2017 and June 30, 2017. The following schedule applies to the distributions:
|Ex-Dividend Date||Record Date||Payable Date||
Amount per share of
|April 12, 2017||April 17, 2017||April 28, 2017||$0.161459|
|May 11, 2017||May 15, 2017||May 31, 2017||$0.161459|
|June 13, 2017||June 15, 2017||June 30, 2017||$0.161459|
The distributions on the Preferred Stock reflect an annual distribution rate of 7.75% of the $25 liquidation preference per share of the Preferred Stock for each of April, May and June.
The specific tax characteristics of the distributions will be reported to the Company’s preferred stockholders on Form 1099 after the end of the 2017 calendar year.
ABOUT EAGLE POINT CREDIT COMPANY
The Company is a non-diversified, closed-end management investment company. The Company’s investment objectives are 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.
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.eaglepointcreditcompany.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 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 for the applicable quarter, if available.
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 Company’s filings with the U.S. Securities and Exchange Commission (“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.