Eagle Point Income Company Inc. Announces Second Quarter 2020 Common Stock Distributions

Eagle Point Income Company Inc. (the “Company”) (NYSE:EIC) today is pleased to announce the declaration of distributions on shares of the Company’s common stock.

The Company has declared three separate distributions of $0.08 per share on its common stock, payable on each of April 30, 2020, May 29, 2020 and June 30, 2020 to stockholders of record as of April 13, 2020, May 12, 2020 and June 12, 2020, respectively. The following schedule applies to the distributions:

“The COVID-19 pandemic has exacerbated a significant decline in interest rates, with the Federal Reserve cutting rates several times in the recent months. The Company made the prudent decision to lower our monthly distributions to be reflective of the drop in rates and the broader economic headwinds facing the market,” said Thomas Majewski, Chairman and Chief Executive Officer of the Company. “We have continued to carefully manage our balance sheet and have repaid a meaningful amount on our revolving credit facility. At present, out of $30 million available under the credit facility, we have approximately $19.6 million undrawn. We have no other indebtedness.”

Distributions on common stock are generally paid from net investment income (regular interest and dividends) and may also include capital gains and/or a return of capital. The specific tax characteristics of the distributions will be reported to the Company’s stockholders on Form 1099 after the end of the 2020 calendar year.

ABOUT EAGLE POINT INCOME 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, with a secondary objective to generate capital appreciation by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments (primarily via minority ownership positions). The Company is externally managed and advised by Eagle Point Income Management LLC. The Company makes a monthly estimate of NAV and certain additional financial information available to investors via its website (www.eaglepointincome.com). This information includes (1) an estimated range of the Company’s NII and realized capital gains or losses per share of common stock for each calendar quarter end, generally made available within the first fifteen days after the applicable calendar month end, (2) an estimate of the Company’s NAV (or an estimated range of the Company’s NAV) per share of common stock for the prior month end and certain additional portfolio-level information, generally made available within the first fifteen days after the applicable calendar month end, and (3) with respect to each calendar quarter end, an updated estimate of the Company’s NAV per share of common stock, if applicable, and NII and realized capital gains or losses for the applicable quarter, if available.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200401005701/en/