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Eagle Point Credit Company Inc. Announces 20% Increase in Common Stock Distributions for Fourth Quarter 2021

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GREENWICH, Conn., August 10, 2021--(BUSINESS WIRE)--Eagle Point Credit Company Inc. (the "Company") (NYSE:ECC, ECCB, ECCC, ECCW, ECCX, ECCY) today is pleased to announce the declaration of distributions on shares of the Company’s common stock.

The Company has declared three separate distributions of $0.12 per share on its common stock, an increase of 20% from its previous monthly distribution rate of $0.10 per share, payable on each of October 29, 2021, November 30, 2021 and December 31, 2021 to stockholders of record as of October 12, 2021, November 10, 2021 and December 13, 2021, respectively. The following schedule applies to the distributions:

Record Date

Payable Date

Amount per common share

October 12, 2021

October 29, 2021

$0.12

November 10, 2021

November 30, 2021

$0.12

December 13, 2021

December 31, 2021

$0.12

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 2021 calendar year.

"Given the strength of the Company’s recent financial performance and our investment portfolio’s recurring cash flow generation, we are pleased to be able to increase our monthly distribution by 20% to $0.12 per common share," said Thomas Majewski, Chief Executive Officer. "This is the second consecutive quarter we have been able to raise the dividend and further underscores our confidence in the Company’s future prospects."

The Company is also pleased to announce the declaration of distributions on shares of the Company’s 7.75% Series B Term Preferred Stock due 2026 (the "Series B Term Preferred Stock"). The Company has declared a distribution of $0.161459 per share on its Series B Term Preferred Stock payable on each of October 29, 2021, November 30, 2021 and December 31, 2021. The following schedule applies to the distributions:

Record Date

Payable Date

Amount per share of Series B
Term Preferred Stock

October 12, 2021

October 29, 2021

$0.161459

November 10, 2021

November 30, 2021

$0.161459

December 13, 2021

December 31, 2021

$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 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 has declared a distribution of $0.135417 per share on its Series C Term Preferred Stock payable on each of October 29, 2021, November 30, 2021 and December 31, 2021. The following schedule applies to the distributions:

Record Date

Payable Date

Amount per share of Series C
Term Preferred Stock

October 12, 2021

October 29, 2021

$0.135417

November 10, 2021

November 30, 2021

$0.135417

December 13, 2021

December 31, 2021

$0.135417

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.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210810005795/en/

Contacts

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

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