Oxford Lane Capital Corp. Announces Dividend Declaration of 6.00% Series 2029 Term Preferred Stock
GREENWICH, Conn., Aug. 24, 2021 (GLOBE NEWSWIRE) — Oxford Lane Capital Corp. (the “Company”) (NasdaqGS: OXLC, OXLCM, OXLCP, OXLCL and OXLCO) announced today its Board of Directors has declared the required monthly dividends on its 6.00% Series 2029 Term Preferred Shares as follows:
| Per Share Dividend Amount Declared | Record Dates | Payment Dates | ||
| $ | 0.1875(1) | September 16, 2021 | September 30, 2021 | |
| $ | 0.125 | October 15, 2021 and November 16, 2021 | October 29, 2021 and November 30, 2021 | |
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(1) Includes the initial accrual period commencing August 17, 2021, the date the 6.00% Series 2029 Term Preferred Shares were issued.
In accordance with its terms, the 6.00% Series 2029 Term Preferred Shares will pay a monthly dividend at a fixed rate of 6.00% of the $25.00 per share liquidation preference, or $1.50 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 6.00% for the 6.00% Series 2029 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, 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, unless required to do so by law.
Contact:
Bruce Rubin
203-983-5280
Source: Oxford Lane Capital Corp.
