Oxford Lane Capital Corp (NASDAQ:OXLC) declared a monthly dividend on Wednesday, August 8th, Wall Street Journal reports. Stockholders of record on Monday, December 24th will be paid a dividend of 0.135 per share by the investment management company on Monday, December 31st. This represents a $1.62 annualized dividend and a dividend yield of 14.16%. The ex-dividend date is Friday, December 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% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.
Shares of Oxford Lane Capital traded up $0.02, hitting $11.44, during midday trading on Wednesday, MarketBeat Ratings reports. The stock had a trading volume of 256,406 shares, compared to its average volume of 243,083. Oxford Lane Capital has a fifty-two week low of $9.11 and a fifty-two week high of $11.74.
Oxford Lane Capital (NASDAQ:OXLC) last issued 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%.
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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