Eagle Point Income Company Announces $50 Million Common Stock Repurchase Program

Eagle Point Income Company has announced a common stock repurchase program to buy back up to $50 million of its common stock in the open market. The program will run until June 9, 2026, and the timing and amount of repurchases will depend on market conditions and other factors. The Company's primary investment objective is to generate high current income and capital appreciation through investments in junior debt tranches of CLOs.

Eagle Point Income Company, a financial services provider, has announced a new common stock repurchase program, authorizing the repurchase of up to $50 million of its common stock. This program, which will run until June 9, 2026, allows the company to buy back shares in the open market. The timing and amount of repurchases will be determined by market conditions and other factors. The repurchased shares will be held in treasury and may be used for general corporate purposes, including stock-based employee benefit plans and stock dividends.

The announcement comes as the company continues to focus on its primary investment objective of generating high current income and capital appreciation through investments in junior debt tranches of CLOs (Collateralized Loan Obligations). This repurchase program demonstrates the company's confidence in its financial health and prospects.

Eagle Point's common stock repurchase program is a strategic move that can enhance shareholder value by reducing the number of outstanding shares, potentially increasing earnings per share. The program also provides flexibility to management, allowing them to time repurchases based on market conditions, which could maximize the benefit to shareholders. However, the absence of a termination date raises uncertainties about the company's commitment to returning value to shareholders.

The company's financial results for the first quarter of 2025 indicate a solid start to the year, with a net asset value per common share of $7.23 as of March 31, 2025, and net investment income per weighted average common share of $0.28 [3].

References:

[1] https://www.nasdaq.com/articles/hawthorn-bancshares-inc-announces-10-million-common-stock-repurchase-program
[2] https://seekingalpha.com/news/4456030-hawthorn-bancshares-announces-new-common-stock-repurchase-program
[3] https://www.businesswire.com/news/home/20250527650089/en/Eagle-Point-Credit-Company-Inc.-Announces-First-Quarter-2025-Financial-Results-and-Declares-Third-Quarter-2025-Common-and-Preferred-Distributions