Oxford Lane Capital Corp. Announces First Fiscal Quarter Dividend of $0.55 per Share

GREENWICH, CT--(Marketwired - May 28, 2013) - Oxford Lane Capital Corp. ("Oxford Lane" or "Company") (NASDAQ: OXLC) announced today that the Company's Board of Directors has declared a first fiscal quarter dividend of $0.55 per share, payable on June 28, 2013 to shareholders of record as of June 14, 2013. 

The Company also announced that its audited net asset value per share as of March 31, 2013 stood at $16.20.

The Company does not anticipate at this time that any portion of the first quarter dividend will constitute a tax return of capital. As previously discussed in our annual report, it should also be noted that, while the Company's net investment income under generally accepted accounting principles is expected to be lower than taxable income, the dividend policy is based upon taxable income, as is required for a regulated investment company.

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 total return by investing in securitization vehicles which, in turn, primarily invest in senior secured loans made to companies whose debt is unrated or is rated below investment grade. 

Forward-Looking Statements

This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions, including statements with regard to the anticipated use of the net proceeds of the Company's securities offering. 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.