Shares of Eagle Point Credit Company Inc. (ECC) are rising more than 5% Monday morning after the company declared a special distribution of $0.50 per share.
The special distribution, which is the second this year, is payable on January 24, to stockholders of record as on December 23.
“This special distribution is attributable to the continued strong cash flows from our portfolio and a reflection of our proactive portfolio management in a challenging market,” said Thomas Majewski, Chief Executive Officer.
ECC, currently at $11.52, has been trading in the range of $10.16-$15.54 in the last 52 weeks.
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