Oxford Lane Capital Corp (NASDAQ:OXLC) announced a monthly dividend on Tuesday, February 12th, Wall Street Journal reports. Shareholders of record on Tuesday, April 23rd will be paid a dividend of 0.135 per share by the investment management company on Tuesday, April 30th. This represents a $1.62 dividend on an annualized basis and a yield of 15.13%. The ex-dividend date of this dividend is Monday, April 22nd.
Oxford Lane Capital has decreased its dividend by an average of 12.3% per year over the last three years. Oxford Lane Capital has a dividend payout ratio of 99.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.
Shares of OXLC stock opened at $10.71 on Friday. Oxford Lane Capital has a fifty-two week low of $7.35 and a fifty-two week high of $11.74.
Separately, Zacks Investment Research raised Oxford Lane Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, January 9th.
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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.
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