Eagle Point Credit Company Inc. (the “Company”) (NYSE: ECC,
ECCC, ECC PRD, ECCV, ECCW, ECCX) today is pleased to announce the
declaration of distributions on shares of the Company’s common
stock.
The Company has declared three separate monthly regular
distributions of $0.14 per share on its common stock, payable on
each of October 31, 2023, November 30, 2023 and December 29, 2023
to stockholders of record as of October 11, 2023, November 13, 2023
and December 11, 2023, respectively. Additionally, the Company is
pleased to announce the declaration of a monthly supplemental
distribution of $0.02 per share, payable on each of October 31,
2023, November 30, 2023 and December 29, 2023 to stockholders of
record as of October 11, 2023, November 13, 2023 and December 11,
2023, respectively.
The following schedule applies to the distributions:
Distribution
Amount per common share
Record Date
Payable Date
Regular
$0.14
October 11, 2023
October 31, 2023
Supplemental
$0.02
October 11, 2023
October 31, 2023
Regular
$0.14
November 13, 2023
November 30, 2023
Supplemental
$0.02
November 13, 2023
November 30, 2023
Regular
$0.14
December 11, 2023
December 29, 2023
Supplemental
$0.02
December 11, 2023
December 29, 2023
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 2023
calendar year.
The declared supplemental distributions relate to the excess of
the Company’s estimated taxable income for the tax year ended
November 30, 2022 over the aggregate amount distributed to common
stockholders for the same time period. For the remainder of 2023,
in addition to monthly regular distributions, based on the
Company’s current projection, the Company expects to also declare
monthly supplemental distributions, though the amounts of such
distributions may vary.1
The Company is also pleased to announce the declaration of
distributions on shares of the Company’s 6.50% Series C Term
Preferred Stock due 2031 (the “Series C Term Preferred Stock”) and
the Company’s 6.75% Series D Preferred Stock (the “Series D
Preferred Stock”) as follows:
Preferred Stock Type
Amount per Share of Preferred
Stock
Record Dates
Payable Dates
6.50% Series C Term Preferred
Stock due 2031
$0.135417
October 11, 2023, November 13,
2023, December 11, 2023
October 31, 2023, November 30,
2023, December 29, 2023
6.75% Series D Preferred
Stock
$0.140625
October 11, 2023, November 13,
2023, December 11, 2023
October 31, 2023, November 30,
2023, December 29, 2023
The distributions on the Series C Term Preferred Stock reflect
an annual distribution rate of 6.50% of the $25 liquidation
preference per share of the Series C Term Preferred Stock. The
distributions on the Series D Preferred Stock reflect an annual
distribution rate of 6.75% of the $25 liquidation preference per
share of the Series D Preferred Stock.
ABOUT EAGLE POINT CREDIT 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, primarily by investing 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 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
Company’s filings with the U.S. 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.
1 The ability of the Company to declare and pay distributions is
subject to a number of factors, including the Company’s results of
operations. All or a portion of any distribution paid by the
Company may consist of a return of capital.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230809207999/en/
Investor and Media Relations: ICR 203-340-8510
IR@EaglePointCredit.com www.eaglepointcreditcompany.com
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