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Eagle Point Credit Company Inc. Announces First Quarter 2020 Common and Preferred Distributions

January 2, 2020 GMT

GREENWICH, Conn.--(BUSINESS WIRE)--Jan 2, 2020--

Eagle Point Credit Company Inc. (the “Company”) (NYSE:ECC, ECCA, ECCB, 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 $0.20 per share on its common stock, payable on each of January 31, 2020, February 28, 2020 and March 31, 2020 to stockholders of record as of January 13, 2020, February 12, 2020 and March 12, 2020, respectively. The following schedule applies to the distributions:

Record Date

Payable Date

Amount per common share

January 13, 2020

January 31, 2020

$0.20

February 12, 2020

February 28, 2020

$0.20

March 12, 2020

March 31, 2020

$0.20

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 2020 calendar year.

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 January 31, 2020, February 28, 2020 and March 31, 2020. The following schedule applies to the distributions:

Record Date

Payable Date

Amount per share of Series B
Term Preferred Stock

January 13, 2020

January 31, 2020

$0.161459

February 12, 2020

February 28, 2020

$0.161459

March 12, 2020

March 31, 2020

$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.

As previously announced, the Company will redeem all of the outstanding shares of the Company’s 7.75% Series A Term Preferred Stock due 2022 (the “Series A Term Preferred Stock”) on January 31, 2020 (the “Redemption Date”). The redemption price per share of the Series A Term Preferred Stock will be $25 per share, plus $0.161459 in accrued and unpaid dividends and distributions on each share accumulated to (but excluding) the Redemption Date.

ABOUT EAGLE POINT CREDIT COMPANY

The Company is a non-diversified, closed-end management investment company. The Company’s investment objectives are to generate high current income and capital appreciation primarily through investment 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 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 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 (“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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200102005511/en/

CONTACT: Investor and Media Relations:

ICR

203-340-8510

IR@EaglePointCredit.com

www.eaglepointcreditcompany.com

KEYWORD: CONNECTICUT UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE

SOURCE: Eagle Point Credit Company Inc.

Copyright Business Wire 2020.

PUB: 01/02/2020 04:15 PM/DISC: 01/02/2020 04:15 PM

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