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Stock impact report

Eagle Point Credit: So, It Finally Happened [Seeking Alpha]

Eagle Point Credit Company Inc. (ECC) 
Company Research Source: Seeking Alpha
Eagle Point Credit: So, It Finally HappenedApr. 17, 2020 1:14 AM ET|About:Eagle Point Credit Company Inc. (ECC)by: Michael FosterClosed-end funds, dividend investing, fund holdingsContrarian OutlookSummaryEagle Point Credit cut its dividend by 60%; I warned investors this was inevitable just seven months ago.ECC's NAV was falling precipitously before the COVID-19 crisis; now its NAV is falling even further.The company's business model is becoming increasingly uneconomical and, without Fed support, ECC is likely to face a death spiral.When I said Eagle Point Credit Company (NYSE:cut distributionsThe Long Story of ECC’s Collapsing NAVThere actually was a way to anticipate this dividend cut (the first in ECC’s history), as the company followed a pattern that has been set by other dividend cutters in the past: they announced the cut late.Declaration DateDividend Amount4/15/200.0801/02/200.210/01/1907/01/1907/01/2004/01/20I’ll spare the monotony, except to say ECC has consistently declare Show less Read more
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