Oxford Lane Capital Corp. Announces Net Asset Value and Selected Financial Results for the Second Fiscal Quarter and Declaration of Distributions on Common Stock for the Months Ending January 31, February 28, and March 31, 2021

Nachrichtenquelle: globenewswire
02.11.2020, 14:00  |  101   |   |   

GREENWICH, Conn., Nov. 02, 2020 (GLOBE NEWSWIRE) -- Oxford Lane Capital Corp. (NasdaqGS: OXLC) (NasdaqGS: OXLCO) (NasdaqGS: OXLCM) (NasdaqGS: OXLCP) (“Oxford Lane,” the “Company,” “we,” “us” or “our”) announced today the following financial results and related information: 

  • On October 29, 2020, our Board of Directors declared the following distributions on our common stock:
Month Ending Record Date Payment Date Amount Per Share
January 31, 2021 January 15, 2021 January 29, 2021 $0.0675
February 28, 2021 February 12, 2021 February 26, 2021 $0.0675
March 31, 2021 March 17, 2021 March 31, 2021 $0.0675

In light of current economic and market conditions, including as a result of the global crisis caused by the spread of the COVID-19 virus, we believe that no reliance should be placed on these distributions representing the prospect for any particular level of common stock distributions for any periods in the future.

  • Net asset value (“NAV”) per share as of September 30, 2020 stood at $3.88, compared with a NAV per share on June 30, 2020 of $3.23.
  • Net investment income (“NII”), calculated in accordance with generally accepted accounting principles (“GAAP”), was approximately $18.2 million, or $0.21 per share, for the quarter ended September 30, 2020.

  • Our core net investment income (“Core NII”) was approximately $20.3 million, or $0.24 per share, for the quarter ended September 30, 2020.

    • Core NII represents NII adjusted for additional applicable cash distributions received, or entitled to be received (if any, in either case), on our collateralized loan obligation (“CLO”) equity investments. See additional information under “Supplemental Information Regarding Core Net Investment Income” below.

    • We emphasize that our taxable income may materially differ from our GAAP NII and/or our Core NII, and that neither GAAP NII nor Core NII should be relied upon as indicators of our taxable income.
  • Total investment income for the second fiscal quarter amounted to approximately $30.1 million, which represented an increase of approximately $400,000 from the quarter ended June 30, 2020.
    • For the quarter ended September 30, 2020 we recorded investment income from our portfolio as follows:
      • $28.1 million from our CLO equity investments, and
      • $2.0 million from our CLO debt investments and other income.
  • Our total expenses for the quarter ended September 30, 2020 were approximately $11.9 million, compared with total expenses of approximately $12.1 million for the quarter ended June 30, 2020.
  • As of September 30, 2020, the following metrics applied (note that none of these metrics represented a total return to shareholders):
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Oxford Lane Capital Corp. Announces Net Asset Value and Selected Financial Results for the Second Fiscal Quarter and Declaration of Distributions on Common Stock for the Months Ending January 31, February 28, and March 31, 2021 GREENWICH, Conn., Nov. 02, 2020 (GLOBE NEWSWIRE) - Oxford Lane Capital Corp. (NasdaqGS: OXLC) (NasdaqGS: OXLCO) (NasdaqGS: OXLCM) (NasdaqGS: OXLCP) (“Oxford Lane,” the “Company,” “we,” “us” or “our”) announced today the following financial results …

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