Eagle Point Credit Company Inc. Declares $0.50 Per Common Share Special Distribution
November 14 2022 - 8:00AM
Business Wire
Eagle Point Credit Company Inc. (the “Company”) (NYSE:ECC, ECCC,
ECC PRD, ECCV, ECCW, ECCX) today is pleased to declare a special
distribution of $0.50 per common share, payable on January 24, 2023
to stockholders of record on December 23, 2022.
Record Date
Payable Date
Amount per common share
December 23, 2022
January 24, 2023
$0.50
“We are very pleased to declare our second special distribution
this year,” said Thomas Majewski, Chief Executive Officer. “This
special distribution is attributable to the continued strong cash
flows from our portfolio and a reflection of our proactive
portfolio management in a challenging market.”
“Based on preliminary estimates, we expect our 2022 taxable
income for the tax year ended November 30, 2022 will exceed our
aggregate regular distributions paid to common stockholders for the
tax year,” added Ken Onorio, Chief Financial Officer.
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 2022
calendar year.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20221114005445/en/
Investor and Media Relations: ICR 203-340-8510
IR@EaglePointCredit.com www.eaglepointcreditcompany.com
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