Oxford Lane Capital Corp (NASDAQ:OXLC) announced a monthly dividend on Wednesday, August 8th, Wall Street Journal reports. Stockholders of record on Wednesday, October 24th will be paid a dividend of 0.135 per share by the investment management company on Wednesday, October 31st. This represents a $1.62 annualized dividend and a dividend yield of 14.16%. The ex-dividend date of this dividend is Tuesday, October 23rd.
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% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.
Shares of OXLC stock traded up $0.02 on Wednesday, hitting $11.44. The stock had a trading volume of 256,406 shares, compared to its average volume of 243,083. Oxford Lane Capital has a 12-month low of $9.11 and a 12-month high of $11.74.
Oxford Lane Capital (NASDAQ:OXLC) last announced its earnings results on Thursday, May 17th. The investment management company reported $0.40 EPS for the quarter. The company had revenue of $20.40 million during the quarter. Oxford Lane Capital had a net margin of 18.15% and a return on equity of 5.38%.
Oxford Lane Capital Company Profile
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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