Oxford Lane Capital Corp. Announces Dividend Declaration of 6.25% Series 2027 Term Preferred Stock
February 14 2020 - 4:01PM
Oxford Lane Capital Corp. (the “Company”) (NasdaqGS: OXLC, OXLCO,
OXLCM and OXLCP) announced today its Board of Directors has
declared the required monthly dividends on its 6.25% Series 2027
Term Preferred Shares as follows:
Per Share Dividend Amount
Declared |
Record Dates |
Payment Dates |
$ |
0.21267361(1) |
March 17 |
March 31 |
$ |
0.13020833 |
April 15 and May 14 |
April 30 and May 29 |
__________________(1) Includes
the initial accrual period commencing February 11, 2020, the date
the 6.25% Series 2027 Term Preferred Shares were issued.
In accordance with its terms, the 6.25% Series
2027 Term Preferred Shares will pay a monthly dividend at a fixed
rate of 6.25% of the $25.00 per share liquidation preference, or
$1.5625 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 6.25% for the 6.25% Series 2027 Term
Preferred Shares.
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
risk-adjusted total return by investing in debt and equity tranches
of collateralized loan obligation (“CLO”) vehicles. CLO investments
may also include warehouse facilities, which are financing
structures intended to aggregate loans that may be used to form the
basis of a CLO vehicle.
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: Bruce Rubin 203-983-5280
Source: Oxford Lane Capital Corp.
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