Eagle Point Credit Company Inc. Announces Second Quarter 2020 Preferred Distributions & Provides Update on Second Quarter 202...
April 01 2020 - 7:45AM
Business Wire
Eagle Point Credit Company Inc. (the “Company”) (NYSE:ECC, ECCB,
ECCX, ECCY) today is pleased to announce the declaration of
distributions on shares of the Company’s preferred stock and
provide an update regarding its distributions on shares of its
common stock.
The Company is pleased to announce the declaration of
distributions on the Company’s preferred shares. The Company has
declared a distribution of $0.161459 per share on shares of the
Company’s 7.75% Series B Term Preferred Stock due 2026 (the “Series
B Term Preferred Stock”) payable on each of April 30, 2020, May 29,
2020 and June 30, 2020. The following schedule applies to the
distributions:
Record Date
Payable Date
Amount per share of Series B Term
Preferred Stock
April 13, 2020
April 30, 2020
$0.161459
May 12, 2020
May 29, 2020
$0.161459
June 12, 2020
June 30, 2020
$0.161459
The distributions on the Series B Term Preferred Stock reflect
an annual distribution rate of 7.75% of the $25 liquidation
preference per share of the Series B Term Preferred Stock.
The Company is currently in the process of finalizing its
estimated net asset value as of and for the quarter ended March 31,
2020. Once this estimate is finalized, which the Company currently
estimates to be on or before April 17, 2020, the Company will
review its plans for distributions on shares of its common stock
for the second fiscal quarter of 2020 and will provide an update at
that time.
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 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.
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
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200401005165/en/
Investor and Media Relations: ICR 203-340-8510
IR@EaglePointCredit.com www.eaglepointcreditcompany.com
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