SOURCE: Oxford Lane Capital Corp.

November 05, 2012 11:01 ET

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

GREENWICH, CT--(Marketwire - Nov 5, 2012) - Oxford Lane Capital Corp. ("Oxford Lane" or "Company") (NASDAQ: OXLC) announced today that the Company's Board of Directors has declared a third fiscal quarter dividend of $0.55 per share, payable on December 31, 2012 to shareholders of record as of December 17, 2012. 

The Company also announced that its unaudited net asset value per share as of September 30, 2012 stood at $17.13. This net asset value calculation is preliminary, and is subject to change pending the final review of the financial statements.

The Company does not anticipate at this time that any portion of the third 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.

The Company expects to file its semi-annual report on Form N-CSR with the Securities and Exchange Commission on or about November 15, 2012.

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.

Contact Information

  • Contact:
    Bruce Rubin
    203-983-5280

    Patrick Conroy
    203-983-5282