Oxford Lane Capital Corp. Announces Fourth Fiscal Quarter Dividend, Payable on March 30, 2012; Provides Earnings Guidance for the Quarter Ended December 31, 2011
January 30, 2012 at 01:00 pm
Share
Oxford Lane Capital Corp. announced that the company's Board of Directors has set a fourth fiscal quarter dividend of $0.55 per share. The company estimates that its taxable income for the fiscal quarter (and the 9 month period) ended December 31, 2011 exceeded the dividend payments with respect to those periods. The fourth quarter dividend will be payable on March 30, 2012 to shareholders of record as of March 16, 2012.
For the quarter ended December 31, 2011 the company estimates that its taxable income was approximately equal to $1.46 million, or $0.59 per share. The company notes that its taxable income has historically differed, and will likely continue to differ, materially from its net investment income reported under U.S. generally accepted accounting principles (GAAP) due to differences between accounting principles and tax regulations.
Oxford Lane Capital Corp. (the Fund) is a closed-end management investment company. The Fundâs investment objective is to purchasing portions of equity and junior debt tranches of collateralized loan obligation (CLO) vehicles. The Fundâs investment strategy also includes warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle. The CLO vehicles which, the Fund focus on is collateralized primarily by senior secured loans made to companies whose debt is unrated or is rated below investment grade, or Senior Loans, and generally have no exposure to real estate, mortgage loans or to pools of consumer-based debt, such as credit card receivables or auto loans. Oxford Lane Management, LLC is the investment advisor of the Fund.
Oxford Lane Capital Corp. Announces Fourth Fiscal Quarter Dividend, Payable on March 30, 2012; Provides Earnings Guidance for the Quarter Ended December 31, 2011