Oxford Lane Capital Corp. Declares Monthly Dividend of $0.08 (NASDAQ:OXLC)

Oxford Lane Capital Corp. (NASDAQ:OXLC) announced a monthly dividend on Tuesday, July 22nd. Stockholders of record on Friday, November 14th will be paid a dividend of 0.08 per share by the investment management company on Friday, November 28th. This represents a c) annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, November 14th.

Oxford Lane Capital has a payout ratio of 522.7% 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 Performance

Shares of NASDAQ:OXLC traded down $0.05 during midday trading on Wednesday, reaching $15.16. The company had a trading volume of 546,751 shares, compared to its average volume of 1,323,198. The company has a fifty day simple moving average of $16.46 and a two-hundred day simple moving average of $19.12. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 2.22 and a beta of 0.79. Oxford Lane Capital has a 1-year low of $14.49 and a 1-year high of $27.10.

Oxford Lane Capital (NASDAQ:OXLC) last posted its quarterly earnings data on Wednesday, November 5th. The investment management company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($1.01). The business had revenue of $128.30 million for the quarter, compared to the consensus estimate of $247.87 million.

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.