Oxford Lane Capital Corp (OXLC) To Go Ex-Dividend on October 23rd

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Oxford Lane Capital Corp (NASDAQ:OXLC) announced a monthly dividend on Wednesday, August 8th, Wall Street Journal reports. Shareholders of record on Wednesday, October 24th will be paid a dividend of 0.135 per share by the investment management company on Wednesday, October 31st. This represents a $1.62 annualized dividend and a yield of 14.73%. The ex-dividend date of this dividend is Tuesday, October 23rd.

Oxford Lane Capital has decreased its dividend payment by an average of 9.1% annually over the last three years. Oxford Lane Capital has a payout ratio of 99.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Shares of OXLC stock opened at $11.00 on Thursday. Oxford Lane Capital has a 52-week low of $9.11 and a 52-week high of $11.74.

Separately, Zacks Investment Research lowered shares of Oxford Lane Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, August 15th.

Oxford Lane Capital Company Profile

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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Dividend History for Oxford Lane Capital (NASDAQ:OXLC)

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