Oxford Lane Capital NAV Rises to $10.74, Core NII Hits $0.95/Share, Declares $0.20 Monthly Distributions
OXLC is trading near its 52-week low of $8.01 (4.9% above the low).
Summary
Oxford Lane Capital reported a modest NAV increase to $10.74 per share, up from $10.56 last quarter, with core net investment income of $0.95 per share comfortably covering the newly declared $0.20 monthly common distributions through year-end. Total investment income dipped $6.9 million sequentially to $87 million, while expenses fell to $36.8 million, helping drive a net asset increase of $76.3 million. The CLO equity portfolio's effective yield slipped to 11.1% from 11.7%, and the cash distribution yield eased to 16.3%, reflecting a slightly softer income environment. This follows the sharp 32% NAV decline reported in May, and the stock remains near its 52-week low, making the sustained distribution coverage a key point for income-focused traders.
At the time of this announcement, OXLC was trading at $8.40 on NASDAQ in the Finance sector, with a market capitalization of approximately $823.7M. The 52-week trading range was $8.01 to $19.05. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.