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

Oxford Lane Capital Corp (NASDAQ:OXLC) announced a monthly dividend on Tuesday, November 6th, Wall Street Journal reports. Shareholders of record on Friday, March 22nd will be given a dividend of 0.135 per share by the investment management company on Friday, March 29th. This represents a $1.62 annualized dividend and a yield of 15.03%. The ex-dividend date of this dividend is Thursday, March 21st.

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% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Shares of NASDAQ:OXLC opened at $10.78 on Wednesday. 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 announced its earnings results on Monday, November 5th. The investment management company reported $0.46 earnings per share (EPS) for the quarter. The business had revenue of $21.90 million for the quarter.

Separately, Zacks Investment Research lowered Oxford Lane Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th.

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Oxford Lane Capital Company Profile

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.

Further Reading: Reverse Stock Split

Dividend History for Oxford Lane Capital (NASDAQ:OXLC)

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