Oxford Lane Capital Corp. Announces Dividend Declaration of 7.125% Series 2029 Term Preferred Stock

GREENWICH, Conn., June 16, 2022 (GLOBE NEWSWIRE) — Oxford Lane Capital Corp. (NasdaqGS: OXLC) (NasdaqGS: OXLCM) (NasdaqGS: OXLCP) (NasdaqGS: OXLCL) (NasdaqGS: OXLCO) (NasdaqGS: OXLCZ) (NasdaqGS: OXLCN) (the “Company,” “we,” “us” or “our”) announced today its Board of Directors has declared the required monthly dividends on its 7.125% Series 2029 Term Preferred Shares as follows:

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⁽¹⁾  Includes the initial accrual period commencing June 16, 2022, the date the 7.125% Series 2029 Term Preferred Shares were issued.

In accordance with its terms, the 7.125% Series 2029 Term Preferred Shares will pay a monthly dividend at a fixed rate of 7.125% of the $25.00 per share liquidation preference, or $1.78125 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 7.125% for the 7.125% Series 2029 Term Preferred Shares.

About Oxford Lane Capital Corp.

Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company principally investing in debt and equity tranches of 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. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties, including the impact of COVID-19 and related changes in base interest rates and significant market volatility on our business, our CLO investments, our industry and the global economy, as well as the market volatility resulting from the conflict between Russia and Ukraine and the sanctions and other restrictive actions taken by the U.S. and other countries against Russia, which could adversely affect our business, financial condition or results of operations. 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, except as may be required by law. 

Contact:
Bruce Rubin
203-983-5280

Source: Oxford Lane Capital Corp.