Oxford Lane Capital Corp. (NASDAQ:OXLC) Plans Monthly Dividend of $0.08

Oxford Lane Capital Corp. (NASDAQ:OXLC) declared a monthly dividend on Tuesday, July 22nd. Stockholders of record on Wednesday, December 17th will be given a dividend of 0.08 per share by the investment management company on Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Wednesday, December 17th.

Oxford Lane Capital has a payout ratio of 477.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Oxford Lane Capital Trading Down 0.9%

Shares of OXLC opened at $13.80 on Monday. The stock has a 50 day moving average of $15.04 and a 200 day moving average of $17.65. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 2.07 and a beta of 0.72. Oxford Lane Capital has a 12 month low of $12.88 and a 12 month high of $26.35.

Oxford Lane Capital (NASDAQ:OXLC) last announced its quarterly earnings data on Wednesday, November 5th. The investment management company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($1.01). The business had revenue of $128.30 million during the quarter, compared to analysts’ expectations of $247.87 million.

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.