Ellington Credit Q2 net loss $0.8M; adjusted distributable earnings $0.36/share; CLO portfolio doubles to $85.1M

Ellington Credit Co

Net loss of $0.8M ($0.04 diluted EPS); adjusted distributable earnings of $7.3M ($0.36 per share).
Book value per share $6.91 as of June 30; monthly dividend $0.08 declared (14.1% yield based on $6.81 close).
CLO portfolio increased to $85.1M (45% of net assets) from $45.1M as of March 31; total CLO holdings $108M as of Aug 9.
Net interest margin on credit portfolio 13.41%, Agency 2.85%; overall 4.24%.
Expect Q3 adjusted distributable earnings to decline from Q2 $0.36 but still exceed Q1 $0.27.

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