Oxford Lane Declares $0.20 Monthly Dividends; NAV Drops to $10.56
OXLC•The Board declared $0.20 per share monthly distributions on common stock for July through September 2026. NAV per share fell to $10.56 at March 31 from $15.51 at year-end, with an unaudited April estimate of $11.12–$11.42, as Q1 core net investment income reached $100.7 million.
1. Dividend Declarations
On May 14, 2026, Oxford Lane’s Board declared monthly common stock distributions of $0.20 per share for the July, August and September 2026 payment dates. The Board also approved fixed monthly dividends on its term preferred shares at annual rates of 6.00%, 7.125% and 8.25% per $25 liquidation preference.
2. Net Asset Value Update
As of March 31, 2026, NAV per share stood at $10.56 compared with $15.51 at December 31, 2025, reflecting net unrealized and realized losses. Management’s unaudited April 30 NAV estimate ranges from $11.12 to $11.42, subject to quarter-end closing adjustments.
3. Q1 Financial Performance
For the quarter ended March 31, 2026, GAAP net investment income totaled $54.5 million, or $0.56 per share, while Core NII was $100.7 million, or $1.03 per share. Total investment income declined to $94.0 million and expenses fell to $39.4 million year-over-year.
4. Portfolio Yields and Activity
The weighted average effective yield on CLO equity investments dropped to 11.7% from 13.8%, and cash distribution yield fell to 16.7% from 19.0%. Oxford Lane invested $0.5 million in new positions and received $82.9 million from CLO sales and repayments during the quarter.
