Oxford Lane Capital Corp. (OXLC) To Go Ex-Dividend on October 16th

Oxford Lane Capital Corp. (NASDAQ:OXLC) declared a monthly dividend on Thursday, July 23rd. Investors of record on Friday, October 16th will be given a dividend of $0.20 per share by the investment management company on Friday, October 30th. This represents a $2.40 dividend on an annualized basis and a yield of 28.8%. The ex-dividend date is Friday, October 16th.

Oxford Lane Capital has a dividend payout ratio of 345.5% 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 Price Performance

Shares of NASDAQ OXLC opened at $8.34 on Wednesday. The stock’s 50-day moving average is $9.23 and its two-hundred day moving average is $9.36. Oxford Lane Capital has a 1-year low of $8.01 and a 1-year high of $16.82. The company has a market cap of $817.57 million, a price-to-earnings ratio of 1.20 and a beta of 0.68.

Oxford Lane Capital (NASDAQ:OXLC) last posted its quarterly earnings results on Tuesday, July 28th. The investment management company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($1.31). The business had revenue of $166.25 million during the quarter, compared to the consensus estimate of $244.27 million.

About Oxford Lane Capital

Oxford Lane Capital Corp. (NASDAQ: OXLC) is a closed-end management investment company focused on investing in collateralized loan obligations (CLOs). The company primarily seeks exposure to the equity and junior debt tranches of CLO vehicles, which are backed largely by portfolios of senior secured loans made to companies.

Through its CLO investments, Oxford Lane seeks to generate current income and, to a lesser extent, capital appreciation. Its portfolio may also include other structured finance investments and related debt instruments.