Oxford Lane Capital Corp. (NASDAQ:OXLC) to Issue Monthly Dividend of $0.10

Oxford Lane Capital Corp. (NASDAQ:OXLC) declared a monthly dividend on Thursday, November 5th. Stockholders of record on Friday, January 15th will be given a dividend of $0.10 per share by the investment management company on Friday, January 29th. This represents a $1.20 annualized dividend and a dividend yield of 24.5%. The ex-dividend date of this dividend is Friday, January 15th. This is a 50.0% decrease from Oxford Lane Capital’s previous monthly dividend of $0.20.

Oxford Lane Capital has a dividend payout ratio of 290.9% meaning 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 Stock Down 24.8%

Shares of NASDAQ:OXLC opened at $4.90 on Friday. Oxford Lane Capital has a fifty-two week low of $4.62 and a fifty-two week high of $15.39. The firm has a 50-day simple moving average of $8.39 and a 200 day simple moving average of $9.36. The company has a market cap of $480.35 million, a PE ratio of 0.71 and a beta of 0.68.

Oxford Lane Capital (NASDAQ:OXLC) last released its quarterly earnings data on Thursday, November 5th. The investment management company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.13). The company had revenue of $82.20 million for the quarter, compared to analysts’ expectations of $176.68 million.

Oxford Lane Capital Company Profile

Oxford Lane Capital Corp. (NASDAQ: OXLC) is a closed-end management investment company focused primarily on investments in collateralized loan obligations (CLOs). CLOs are structured credit vehicles that typically hold portfolios of senior secured corporate loans and issue multiple classes of debt and equity securities with different levels of risk and return.

The company invests mainly in CLO equity and subordinated debt tranches, as well as selected senior secured loan and other corporate credit investments.