Oxford Lane Capital Corp (NASDAQ:OXLC) declared a monthly dividend on Tuesday, May 7th, Wall Street Journal reports. Investors of record on Wednesday, July 24th will be given a dividend of 0.135 per share by the investment management company on Wednesday, July 31st. This represents a $1.62 annualized dividend and a yield of 15.07%. The ex-dividend date of this dividend is Tuesday, July 23rd.
Oxford Lane Capital has decreased its dividend payment by an average of 12.3% annually 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 decline.
NASDAQ:OXLC opened at $10.75 on Monday. The business has a fifty day moving average of $10.29. Oxford Lane Capital has a 12-month low of $7.35 and a 12-month high of $11.50.
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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