Oxford Lane Capital Corp Plans Monthly Dividend of $0.14 (OXLC)

Oxford Lane Capital Corp (NASDAQ:OXLC) declared a monthly dividend on Tuesday, November 6th, Wall Street Journal reports. Shareholders of record on Thursday, February 21st will be paid a dividend of 0.135 per share by the investment management company on Thursday, February 28th. This represents a $1.62 dividend on an annualized basis and a yield of 15.03%. The ex-dividend date is Wednesday, February 20th.

Oxford Lane Capital has decreased its dividend payment by an average of 9.1% annually over the last three years. Oxford Lane Capital has a dividend payout ratio of 99.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

OXLC stock traded up $0.14 during trading on Tuesday, reaching $10.78. 225,384 shares of the stock were exchanged, compared to its average volume of 260,693. Oxford Lane Capital has a 1 year low of $9.11 and a 1 year high of $11.74.

Oxford Lane Capital (NASDAQ:OXLC) last issued its earnings results on Monday, November 5th. The investment management company reported $0.46 EPS for the quarter. The firm had revenue of $21.90 million for the quarter.

Separately, Zacks Investment Research raised shares of Oxford Lane Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 25th.

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About Oxford Lane Capital

Oxford Lane Capital Corp. is a close ended fund launched and managed by Oxford Lane Management LLC. It invests in fixed income securities. The fund primarily invests in securitization vehicles which in turn invest in senior secured loans made to companies whose debt is rated below investment grade or is unrated.

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Dividend History for Oxford Lane Capital (NASDAQ:OXLC)

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