SOURCE: Oxford Lane Capital Corp.

November 26, 2013 16:01 ET

Oxford Lane Capital Corp. Announces Fourth Fiscal Quarter Dividend Increase to $0.60 per Common Share and Special Dividend Distribution of $0.10 per Common Share

GREENWICH, CT--(Marketwired - Nov 26, 2013) -  Oxford Lane Capital Corp. ("Oxford Lane" or "Company") (NASDAQ: OXLC) announced today that the Company's Board of Directors has declared a fourth fiscal quarter dividend of $0.60 per common share, an increase of $0.05 per common share over the prior quarter, payable on March 31, 2014 to stockholders of record as of March 17, 2014. Additionally, the Company's Board of Directors has declared a special dividend of $0.10 per common share, payable on March 31, 2014 to stockholders of record as of March 17, 2014. With this dividend increase and special dividend distribution, total stockholder distributions for fiscal 2014 will be $2.35 per common share, compared to total stockholder distributions of $2.20 per common share for fiscal 2013.

The Company does not anticipate at this time that any portion of the fourth quarter dividend will constitute a tax return of capital with regard to the Company's 2014 fiscal year. As previously discussed in the Company's semi-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. 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.

Contact Information

  • Contact:
    Bruce Rubin

    Dan Kashdin