Oxford Lane Capital Corp. Announces Dividend Declaration of 6.25% Series 2027 Term Preferred Stock
GREENWICH, Conn., Feb. 14, 2020 (GLOBE NEWSWIRE) -- Oxford Lane Capital Corp. (the “Company”) (NasdaqGS: OXLC, OXLCO, OXLCM and OXLCP) announced today its Board of Directors has declared the required monthly dividends on its 6.25% Series 2027 Term Preferred Shares as follows:
| Per Share Dividend Amount Declared | Record Dates | Payment Dates | |
| $ | 0.21267361(1) | March 17 | March 31 |
| $ | 0.13020833 | April 15 and May 14 | April 30 and May 29 |
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(1) Includes the initial accrual period commencing February 11, 2020, the date the 6.25% Series 2027 Term Preferred Shares were issued.
In accordance with its terms, the 6.25% Series 2027 Term Preferred Shares will pay a monthly dividend at a fixed rate of 6.25% of the $25.00 per share liquidation preference, or $1.5625 per share per year. This fixed annual dividend rate is subject to adjustment under certain circumstances, but will not, in any case, be lower than 6.25% for the 6.25% Series 2027 Term Preferred Shares.
About Oxford Lane Capital Corp.
Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company. It currently seeks to achieve its investment objective of maximizing risk-adjusted total return by investing in debt and equity tranches of collateralized loan obligation (“CLO”) vehicles. CLO investments may also include warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle.
Forward-Looking Statements
This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events, unless required to do so by law.
Contact:
Bruce Rubin
203-983-5280
Source: Oxford Lane Capital Corp.
