Oxford Lane Capital Corp. (NASDAQ:OXLC) Stock to Pay Monthly Dividend of $0.10

Oxford Lane Capital Corp. (NASDAQ:OXLC) announced a monthly dividend on Thursday, November 5th. Stockholders of record on Wednesday, March 17th will be given a dividend of $0.10 per share by the investment management company on Wednesday, March 31st. 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 Wednesday, March 17th.

Oxford Lane Capital has a payout ratio of 290.9% meaning 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 Stock Down 24.8%

NASDAQ:OXLC opened at $4.90 on Friday. The stock has a market cap of $480.35 million, a price-to-earnings ratio of 0.71 and a beta of 0.68. The company’s 50 day moving average price is $8.39 and its 200-day moving average price is $9.36. Oxford Lane Capital has a 52 week low of $4.62 and a 52 week high of $15.39.

Oxford Lane Capital (NASDAQ:OXLC) last announced its quarterly earnings data on Thursday, November 5th. The investment management company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.13). The company had revenue of $82.20 million for the quarter, compared to the consensus estimate of $176.68 million.

About Oxford Lane Capital

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.