Eagle Point Income Company Inc. Plans Monthly Dividend of $0.20 (NYSE:EIC)

Eagle Point Income Company Inc. (NYSE:EIC) declared a monthly dividend on Friday, November 8th, Wall Street Journal reports. Investors of record on Tuesday, March 11th will be given a dividend of 0.20 per share on Monday, March 31st. This represents a $2.40 dividend on an annualized basis and a yield of 14.98%. The ex-dividend date of this dividend is Tuesday, March 11th.

Eagle Point Income has increased its dividend by an average of 27.2% annually over the last three years.

Eagle Point Income Trading Up 1.8 %

NYSE:EIC opened at $16.02 on Friday. Eagle Point Income has a one year low of $14.78 and a one year high of $16.75. The stock has a 50-day simple moving average of $15.84 and a 200 day simple moving average of $15.79.

Eagle Point Income (NYSE:EIC) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). The company had revenue of $13.67 million during the quarter, compared to analyst estimates of $13.54 million.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EIC shares. B. Riley raised shares of Eagle Point Income to a “strong-buy” rating in a report on Tuesday, January 7th. LADENBURG THALM/SH SH raised shares of Eagle Point Income to a “strong-buy” rating in a report on Thursday, January 16th.

About Eagle Point Income

About Eagle Point Income 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, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.