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

Oxford Lane Capital Corp. (NASDAQ:OXLC) declared a monthly dividend on Wednesday, January 29th, Wall Street Journal reports. Stockholders of record on Monday, June 16th will be paid a dividend of 0.09 per share by the investment management company on Monday, June 30th. This represents a $1.08 annualized dividend and a dividend yield of 24.71%. The ex-dividend date is Monday, June 16th.

Oxford Lane Capital has a payout ratio of 98.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Oxford Lane Capital Stock Performance

Shares of OXLC opened at $4.37 on Friday. The stock has a 50-day simple moving average of $4.56 and a 200-day simple moving average of $4.85. The stock has a market capitalization of $1.98 billion, a PE ratio of 5.27 and a beta of 0.81. Oxford Lane Capital has a 1 year low of $3.91 and a 1 year high of $5.68.

Hedge Funds Weigh In On Oxford Lane Capital

A hedge fund recently raised its stake in Oxford Lane Capital stock. NewEdge Advisors LLC lifted its holdings in shares of Oxford Lane Capital Corp. (NASDAQ:OXLC) by 17.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,326 shares of the investment management company’s stock after acquiring an additional 4,462 shares during the period. NewEdge Advisors LLC’s holdings in Oxford Lane Capital were worth $138,000 at the end of the most recent reporting period. Institutional investors own 6.74% of the company’s stock.

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.