GREENWICH, Conn.--(BUSINESS WIRE)--Nov. 6, 2024-- Eagle Point Credit Company Inc. (the “Company”) (NYSE: ECC, ECCC, ECC PRD, ECCF, ECCV, ECCW, ECCX) today is pleased to announce the declaration of distributions on shares of the Company’s common stock.

For the first quarter of 2025, the Company is declaring three separate monthly distributions of $0.14 per share on its common stock.

The distributions are payable based on the following schedule:

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 2025 calendar year.

The Company’s current estimated taxable income for the 2024 tax year is expected to be fully distributed to common stockholders for the same tax year. The Company will maintain its regular monthly common distribution as summarized above, but will conclude its monthly variable supplemental distribution as of December 31, 2024.

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”), the Company’s 6.75% Series D Preferred Stock (the “Series D Preferred Stock”) and the Company’s 8.00% Series F Term Preferred Stock due 2029 (the “Series F Term Preferred Stock”) as follows:

The distributions on the Series C Term Preferred Stock, Series D Preferred Stock and Series F Term Preferred Stock reflect an annual distribution rate of 6.50%, 6.75% and 8.00%, respectively, of the $25 liquidation preference per share.

The Company is also announcing the declaration of monthly distributions of $0.145834 on shares of the Company’s 7.00% Series AA Convertible and Perpetual Preferred Stock and 7.00% Series AB Convertible and Perpetual Preferred Stock (collectively, the “Convertible Preferred Stock”) as follows:

The distributions on shares of the Convertible Preferred Stock reflect an annual distribution rate of 7.00% of the $25 liquidation preference per share and accumulate from the date of original issue.

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 CLOs. 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 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 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 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.

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Investor and Media Relations:
ICR
203-340-8510
IR@EaglePointCredit.com
www.eaglepointcreditcompany.com

Source: Eagle Point Credit Company Inc.