Benzinga | Aug 9, 2021 11:36AM EDT

Analyzing Eagle Point Credit Co's Ex-Dividend Date

On May 13, 2021, Eagle Point Credit Co (NYSE:ECC) announced shareholders can expect to receive a dividend payable on September 30, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. Eagle Point Credit Co, which has a current dividend per share of $0.1, has an ex-dividend date scheduled for September 9, 2021. That equates to a dividend yield of 9.76% at current price levels.

Understanding Ex-Dividend Dates'

An ex-dividend date is when a company's shares stop trading with its current dividend payout in preparation for the company to announce a new one. Usually, a company's ex-dividend date falls one business day before its record date. Investors should keep this in mind when purchasing stocks because buying them on or after ex-dividend dates does not qualify them to receive the declared payment. Newly declared dividends go to shareholders who have owned that stock before the ex-dividend date. Most ex-dividend dates operate on a quarterly basis.

Understanding Eagle Point Credit Co's Dividend Payouts And Yields

Over the past year, Eagle Point Credit Co has experienced an overall upward trend regarding its dividend payouts and yields. Last year on May 7, 2021 the company's payout was $0.08, which has since grown by $0.02. Similarly, Eagle Point Credit Co's dividend yield in last year was 8.37%, which has since grown by 1.39%.

Companies use dividend yields in different strategic ways. Some companies may opt to not give yields altogether to reinvest in themselves. Other companies may opt to increase or decrease their yield amounts to control how their shares circulate throughout the stock market.

Click here to find details on Eagle Point Credit Co's previous dividends.