Oxford Lane Capital Corp. (NASDAQ:OXLC) Announces $0.09 Monthly Dividend

Oxford Lane Capital Corp. (NASDAQ:OXLC) announced a monthly dividend on Monday, July 29th,Wall Street Journal reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.09 per share by the investment management company on Friday, November 29th. This represents a $1.08 dividend on an annualized basis and a yield of 20.00%. The ex-dividend date is Friday, November 15th.

Oxford Lane Capital has raised its dividend by an average of 4.7% per year over the last three years. Oxford Lane Capital has a dividend payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

Oxford Lane Capital Trading Up 0.9 %

OXLC stock opened at $5.40 on Thursday. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 3.86 and a beta of 1.15. Oxford Lane Capital has a 12 month low of $4.82 and a 12 month high of $5.78. The firm has a 50-day moving average of $5.28 and a two-hundred day moving average of $5.37.

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.