ECCB - ECCB: Collect An Equity Yield (7.6%) With Preferred Stock Safeguards

September, 16 2021 11:38 PM Eagle Point Credit Company Inc. 7.75% Series B Term Preferred Stock due 2026

Eagle Point Credit's ECCB preferred stock pays 7.6%, higher than many fixed income funds pay their equity owners.
And with more asset protection, earnings coverage and less risk.
One caveat: its small market price premium to par (equal to about two months' distributions) could come back to bite us if it's called.
But it shouldn't be called for at least three months (probably longer), given the fund just declared preferred dividends through year-end.
And also went to the trouble and expense of issuing new ECCB shares as recently as June 2021.

For further details see:

Company Name:	Eagle Point Credit Company Inc. 7.75% Series B Term Preferred Stock due 2026
Stock Symbol:	ECCB
Market:	NYSE