SOURCE: Oxford Lane Capital Corp.

January 14, 2013 15:10 ET

Oxford Lane Capital Corp. Announces Preferred Stock Dividend

GREENWICH, CT--(Marketwire - Jan 14, 2013) - Oxford Lane Capital Corp. ("Oxford Lane" or "Company") (NASDAQ: OXLC) announced today that the Company's Board of Directors has declared the dividend on its Series 2017 Term Preferred Shares ("preferred stock") of $0.1771 per share, payable on January 31, 2013 to shareholders of record as of January 21, 2013. This dividend covers the period from January 1, 2013 through January 31, 2013.

As previously discussed in the prospectus supplement, dated November 19, 2012, the preferred stock will pay a monthly dividend at a fixed rate of 8.50% of the $25 per share liquidation preference, or $2.125 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 8.50% per year.

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
    203-983-5280