Eagle Point Credit Company Inc. Announces Second Quarter 2015 Common and Preferred Distributions

GREENWICH, Conn.--(BUSINESS WIRE)-- Eagle Point Credit Company Inc. (the “Company”) (NYSE: ECC, NYSE: ECCA) today is pleased to announce the declaration of distributions on shares of the Company’s common stock and 7.75% Series A Term Preferred Stock due 2022 (the “Series A Preferred Stock”).

The Company has declared a distribution of $0.60 per share on its common stock, payable on July 31, 2015. The following schedule applies to the distribution:

The Company previously declared a distribution of $0.231424 per share on its Series A Preferred Stock, payable on June 30, 2015. The following schedule applies to the distribution:

The distribution on the Series A Preferred Stock reflects an annual distribution rate of 7.75% of the $25 liquidation preference per share of the Series A Preferred Stock from May 18, 2015 through June 30, 2015.

Chief Executive Officer Thomas Majewski commented, “The Company’s portfolio continues to perform well and has already generated approximately $17.1 million (or $1.24 per common share) of cash distributions in the second quarter of 2015.”

Chief Financial Officer Ken Onorio commented, “The Company is pleased to announce another distribution on its common stock in line with its prior distributions at a 12% annualized rate based on our IPO price of $20 per share and to begin cash distributions to the holders of our Series A Preferred Stock.”

Distributions are generally expected to be paid from net investment income (regular interest and dividends) but may also include capital gains and/or a return of capital. The specific tax characteristics of the distribution will be reported to the Company’s shareholders on Form 1099 after the end of the 2015 calendar year.

ABOUT EAGLE POINT CREDIT COMPANY

The Company is a publicly-traded, non-diversified, closed-end management investment company. The Company’s investment objective is 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 principals of Eagle Point Credit Management LLC are Thomas P. Majewski, Daniel W. Ko and Daniel M. Spinner.

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 prospectus and the Company’s other filings with the 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.

Source: Eagle Point Credit Company Inc.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150601006846/en/

Investor Relations:
Eagle Point Credit Company Inc.
Kenneth P. Onorio, 203-340-8500
Chief Financial Officer
[email protected]
www.eaglepointcreditcompany.com

Source: Eagle Point Credit Company Inc.

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