StockNews.AI
EIC
StockNews.AI
71 days

Eagle Point Income Company Inc. Announces Common Stock Repurchase Program

1. EIC announced a $50 million stock repurchase program. 2. The program will last until June 9, 2026 unless modified. 3. Repurchase timing and amount will depend on market conditions. 4. EIC focuses on high current income and capital appreciation investments. 5. External management is provided by Eagle Point Income Management LLC.

Shares Buyback
+3.4%Current Return
VS
+0.57%S&P 500
$12.9306/09 08:30 AM EDTEvent Start
$13.3706/10 02:59 PM EDTLatest Updated
5m saved
Insight
Article

FAQ

Why Bullish?

The stock repurchase program suggests confidence in EIC's value and can support share prices. Historically, such programs have led to price appreciation for companies as they indicate management believes shares are undervalued.

How important is it?

The repurchase program represents a significant financial commitment indicating management's confidence in future performance, which could attract investor interest.

Why Short Term?

The immediate effect of the stock buyback is likely to influence share prices in the short term. Companies typically experience price increases shortly following buyback announcements.

Related Companies

EICAEICBEICC
- GREENWICH, Conn.--(BUSINESS WIRE)--Eagle Point Income Company Inc. (the “Company”) (NYSE: EIC, EICA, EICB, EICC) today announced that its board of directors has authorized a program to repurchase up to $50 million of the Company's common stock in the open market. The repurchase program will remain in effect until June 9, 2026, unless otherwise extended or earlier discontinued. The timing, manner, price and amount of any repurchases will depend on the Company’s stock price, market conditions, applicable legal requirements and other factors. The repurchase program does not require the Company to repurchase any common stock, and the program may be suspended, extended, modified or discontinued at any time. ABOUT EAGLE POINT INCOME COMPANY The Company is a diversified, closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation. The Company seeks to achieve its investment objectives by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 35% of its total assets (at the time of investment) in CLO equity securities. The Company is externally managed and advised by Eagle Point Income Management LLC. The Company makes certain unaudited portfolio information available each month on its website in addition to making certain other unaudited financial information available on its website (www.eaglepointincome.com). This information includes (1) an estimated range of the Company’s net investment income 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 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) during the latter part of each month, an updated estimate of NAV, if applicable, and, with respect to each calendar quarter end, an updated estimate of the Company’s net investment income and realized capital gains or losses per share for the applicable quarter. 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. More News From Eagle Point Income Company Inc.

Related News