Oxford Lane Capital Corp. (OXLC) to Issue Monthly Dividend of $0.09 on June 30th

Oxford Lane Capital Corp. (NASDAQ:OXLC) declared a monthly dividend on Wednesday, January 29th, Wall Street Journal reports. Investors of record on Monday, June 16th will be given a dividend of 0.09 per share by the investment management company on Monday, June 30th. This represents a $1.08 annualized dividend and a yield of 24.71%. The ex-dividend date is Monday, June 16th.

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 fall.

Oxford Lane Capital Stock Performance

OXLC opened at $4.37 on Friday. The stock’s 50-day moving average price is $4.56 and its 200 day moving average price is $4.85. Oxford Lane Capital has a 12-month low of $3.91 and a 12-month high of $5.68. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 5.27 and a beta of 0.81.

Hedge Funds Weigh In On Oxford Lane Capital

A hedge fund recently raised its stake in Oxford Lane Capital stock. Integrated Wealth Concepts LLC increased its position in shares of Oxford Lane Capital Corp. (NASDAQ:OXLC) by 70.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,136 shares of the investment management company’s stock after acquiring an additional 12,873 shares during the period. Integrated Wealth Concepts LLC’s holdings in Oxford Lane Capital were worth $147,000 at the end of the most recent quarter. Institutional investors own 6.74% of the company’s stock.

About Oxford Lane Capital

Oxford Lane Capital Corp. is a close ended fund launched and managed by Oxford Lane Management LLC. It invests in fixed income securities. The fund primarily invests in securitization vehicles which in turn invest in senior secured loans made to companies whose debt is rated below investment grade or is unrated.