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

Oxford Lane Capital Corp. (NASDAQ:OXLC) announced a monthly dividend on Tuesday, July 30th,Wall Street Journal reports. Stockholders of record on Tuesday, December 17th will be given a dividend of 0.09 per share by the investment management company on Tuesday, December 31st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 20.61%. The ex-dividend date of this dividend is Tuesday, December 17th.

Oxford Lane Capital has increased 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% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

Oxford Lane Capital Stock Performance

NASDAQ:OXLC opened at $5.24 on Friday. The firm’s fifty day moving average is $5.27 and its two-hundred day moving average is $5.36. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 3.74 and a beta of 1.15. Oxford Lane Capital has a one year low of $4.82 and a one year high of $5.78.

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.