SOURCE: Oxford Lane Capital Corp.

August 21, 2015 13:23 ET

Oxford Lane Capital Corp. Comments on Upcoming Common Stock Distribution

GREENWICH, CT--(Marketwired - Aug 21, 2015) - Oxford Lane Capital Corp. ("Oxford Lane" or "Company") (NASDAQ: OXLC) (NASDAQ: OXLCN) (NASDAQ: OXLCO) today issued the following statement with regard to the Company's most recent distribution declaration: We have received a number of questions from our stockholders as to why we recently changed the record date and payment date convention with respect to our quarterly distributions. Historically, the record and payment dates with respect to our quarterly distributions were within the same relevant quarter. We changed this convention with respect to the distribution for the quarter ending September 30, 2015 by setting the record date within the quarter, but moving the payment date to a date outside of the quarter. We made this change to increase the efficiency of our portfolio investments by reducing our need to hold excess cash, while keeping the record date for the distribution payment within the month of September. Given that this change has caused some confusion, we intend to revert to our historical record date and payment date convention (i.e., keeping both the record and payment dates within the same quarter) with respect to our future quarterly distributions.

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, unless required to do so by law.

Contact Information

  • Contact:
    Bruce Rubin
    203-983-5280