Eagle Point Income Fund Declares First Quarter Distributions
Eagle Point Institutional Income Fund (the “Fund”) has recently made a significant announcement regarding the declaration of distributions on its 8.125% Series A Term Preferred Shares due 2029, known as the “Preferred Shares.” These shares are available on the New York Stock Exchange under the ticker symbol NYSE: EIIA.
Monthly Distribution Schedule
For the first quarter of 2025, shareholders can expect three separate monthly distributions, each amounting to $0.169271 per Preferred Share. This is an exciting prospect for investors looking for reliable income streams from their investments.
Detailed Distributions Information
The distributions will be payable on the following schedule:
Payment and Record Dates
Here's a concise table detailing the payment and record dates for the upcoming distributions:
- Amount per Preferred Share: $0.169271
- Record Date for Payment: January 13, 2025
- Payable Date: January 31, 2025
- Amount per Preferred Share: $0.169271
- Record Date for Payment: February 10, 2025
- Payable Date: February 28, 2025
- Amount per Preferred Share: $0.169271
- Record Date for Payment: March 11, 2025
- Payable Date: March 31, 2025
Understanding the Impact of Distributions
The upcoming distributions on the Preferred Shares demonstrate a commitment to providing an annual distribution rate of 8.125% based on a $25 liquidation preference per share. This is a key factor for investors seeking consistent and attractive returns.
About Eagle Point Institutional Income Fund
The Fund operates as a non-diversified closed-end management investment company, primarily focused on generating high current income. Additionally, it aims for capital appreciation through investments mainly in equity and junior debt tranches of collateralized loan obligations. Eagle Point Credit Management LLC is responsible for managing and advising the Fund. It is important to note that the Fund's common shares of beneficial interest are not traded on any securities exchanges, which distinguishes it from many other investment vehicles.
Frequently Asked Questions
What is the significance of the 8.125% distribution rate?
The 8.125% distribution rate indicates the expected annual return for Preferred Shareholders based on a $25 liquidation preference.
How many distributions will be declared in the first quarter of 2025?
The Fund has declared three monthly distributions for the first quarter of 2025.
When are the payable dates for the declared distributions?
Payable dates for the distributions are January 31, February 28, and March 31 of 2025.
Who manages the Eagle Point Institutional Income Fund?
The Fund is externally managed and advised by Eagle Point Credit Management LLC.
Is the Fund listed on securities exchanges?
No, the Fund's common shares of beneficial interest are not listed on any securities exchange, setting it apart from most investment funds.
