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

Oxford Lane Capital Corp. (NASDAQ:OXLCGet Rating) announced a monthly dividend on Friday, August 5th, Wall Street Journal reports. Shareholders of record on Friday, December 16th will be paid a dividend of 0.075 per share by the investment management company on Friday, December 30th. This represents a $0.90 dividend on an annualized basis and a yield of 14.22%. The ex-dividend date of this dividend is Thursday, December 15th.

Oxford Lane Capital has decreased its dividend by an average of 19.9% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Oxford Lane Capital has a dividend payout ratio of 94.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Oxford Lane Capital Trading Down 2.2 %

Shares of NASDAQ:OXLC opened at $6.33 on Friday. The business’s fifty day moving average price is $6.18 and its two-hundred day moving average price is $6.87. Oxford Lane Capital has a fifty-two week low of $5.49 and a fifty-two week high of $8.53.

Oxford Lane Capital (NASDAQ:OXLCGet Rating) last announced its quarterly earnings results on Friday, May 6th. The investment management company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. The company had revenue of $55.10 million during the quarter, compared to the consensus estimate of $64.80 million.

Institutional Trading of Oxford Lane Capital

Several large investors have recently made changes to their positions in OXLC. Raymond James & Associates grew its holdings in shares of Oxford Lane Capital by 42.8% during the first quarter. Raymond James & Associates now owns 32,536 shares of the investment management company’s stock worth $236,000 after purchasing an additional 9,746 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Oxford Lane Capital by 55.5% during the first quarter. Private Advisor Group LLC now owns 34,088 shares of the investment management company’s stock worth $247,000 after purchasing an additional 12,165 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Oxford Lane Capital during the first quarter worth $814,000. United Capital Financial Advisers LLC bought a new stake in shares of Oxford Lane Capital during the first quarter worth $109,000. Finally, Wetherby Asset Management Inc. bought a new stake in shares of Oxford Lane Capital during the first quarter worth $145,000.

Oxford Lane Capital Company Profile

(Get Rating)

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.

See Also

Dividend History for Oxford Lane Capital (NASDAQ:OXLC)

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