SOURCE: Oxford Lane Capital Corp.
GREENWICH, CT--(Marketwired - May 10, 2013) - Oxford Lane Capital Corp. ("Oxford Lane" or "Company") (NASDAQ: OXLC) announced today that the Company's Board of Directors has declared the required monthly dividend on its Series 2017 Term Preferred Shares ("preferred stock") of $0.1771 per share, payable on May 31, 2013 to shareholders of record as of May 21, 2013. This dividend covers the period from May 1, 2013 through May 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 $25.00 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 rated below investment grade or is unrated.
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.