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

Oxford Lane Capital Corp. (NASDAQ:OXLC) declared a monthly dividend on Tuesday, July 22nd. Shareholders of record on Friday, November 14th will be given a dividend of 0.08 per share by the investment management company on Friday, November 28th. This represents a c) annualized dividend and a yield of 6.3%. The ex-dividend date is Friday, November 14th.

Oxford Lane Capital has a payout ratio of 522.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Oxford Lane Capital Price Performance

Shares of Oxford Lane Capital stock traded down $0.03 during trading on Wednesday, hitting $15.19. 465,201 shares of the stock were exchanged, compared to its average volume of 1,322,461. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 2.22 and a beta of 0.79. The firm’s 50-day moving average price is $16.46 and its 200 day moving average price is $19.12. Oxford Lane Capital has a 12-month low of $14.49 and a 12-month high of $27.10.

Oxford Lane Capital (NASDAQ:OXLC) last released its quarterly earnings data on Wednesday, November 5th. The investment management company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($1.01). The firm had revenue of $128.30 million during the quarter, compared to analyst estimates of $247.87 million.

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.