Oxford Lane Capital Corp (NASDAQ:OXLC) announced a monthly dividend on Wednesday, August 8th, Wall Street Journal reports. Stockholders of record on Friday, November 23rd will be given a dividend of 0.135 per share by the investment management company on Friday, November 30th. This represents a $1.62 annualized dividend and a dividend yield of 14.16%. The ex-dividend date is Wednesday, November 21st.
Oxford Lane Capital has decreased its dividend payment by an average of 9.1% per year over the last three years. Oxford Lane Capital has a payout ratio of 98.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.
Shares of OXLC traded up $0.02 during mid-day trading on Wednesday, hitting $11.44. 256,406 shares of the company traded hands, compared to its average volume of 243,083. Oxford Lane Capital has a one year low of $9.11 and a one year high of $11.74.
Oxford Lane Capital (NASDAQ:OXLC) last released its quarterly earnings results on Thursday, May 17th. The investment management company reported $0.40 EPS for the quarter. Oxford Lane Capital had a net margin of 18.15% and a return on equity of 5.38%. The business had revenue of $20.40 million for the quarter.
About Oxford Lane Capital
Oxford Lane Capital Corp. is a non-diversified closed-end management investment company. The Fund’s investment objective is to maximize its portfolio’s risk adjusted total return and seeks to achieve its investment objective by investing in structured finance investments, specifically collateralized loan obligation (CLO) vehicles, which primarily own senior corporate debt securities.
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