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. Investors 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 dividend on an annualized basis 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% 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 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 market capitalization of $480.35 million, a PE ratio of 0.71 and a beta of 0.68. The company’s 50-day moving average is $8.39 and its 200-day moving average is $9.36.

Oxford Lane Capital (NASDAQ:OXLC) last posted its earnings results on Thursday, November 5th. The investment management company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.81 by ($1.13). The firm had revenue of $82.20 million during the quarter, compared to the consensus estimate of $176.68 million.

Institutional Investors Weigh In On Oxford Lane Capital

Institutional investors and hedge funds have recently bought and sold shares of the company. Kohlberg Kravis Roberts & Co. L.P. bought a new stake in shares of Oxford Lane Capital during the first quarter worth $31,171,000. Polar Asset Management Partners Inc. lifted its position in shares of Oxford Lane Capital by 17.5% in the 2nd quarter. Polar Asset Management Partners Inc. now owns 2,350,000 shares of the investment management company’s stock worth $20,586,000 after purchasing an additional 350,000 shares during the period. Saba Capital Management L.P. acquired a new position in Oxford Lane Capital in the first quarter valued at $18,114,000. Citadel Advisors LLC boosted its position in shares of Oxford Lane Capital by 48.9% during the 2nd quarter. Citadel Advisors LLC now owns 1,703,401 shares of the investment management company’s stock valued at $14,922,000 after purchasing an additional 559,421 shares in the last quarter. Finally, Susquehanna International Group LLP boosted its holdings in shares of Oxford Lane Capital by 1.7% during the 2nd quarter. Susquehanna International Group LLP now owns 110,333 shares of the investment management company’s stock worth $967,000 after buying an additional 1,833 shares in the last quarter. Institutional investors own 6.74% of the company’s stock.

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.