Business
Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended June 30, 2022 and Declaration of Distributions on Common Stock for the Months Ending October 31, November 30, and December 31, 2022
GREENWICH, Conn., July 26, 2022 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQL) (NasdaqGS: OXSQZ) (NasdaqGS: OXSQG) (the
About this update from Oxford Square Capital Corp.
[{"type":"text","content":"GREENWICH, Conn., July 26, 2022 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQL) (NasdaqGS: OXSQZ) (NasdaqGS: OXSQG) (the “Company,” “we,” “us” or “our”) announced today its financial results and related information for the quarter ended June 30, 2022. On July 21, 2022, our Board of Directors declared the following distributions on our common stock: Month EndingRecord DatePayment DateAmount Per ShareOctober 31, 2022October 17, 2022October 31, 2022$0.035November 30, 2022November 16, 2022November 30, 2022$0.035December 31, 2022December 16, 2022December 30, 2022$0.035 Net asset value (“NAV”) per share as of June 30, 2022 stood at $3.67, compared with a NAV per share on March 31, 2022 of $4.65. Net investment income (“NII”), calculated in accordance with U.S. generally accepted accounting principles, was approximately $4.3 million, or $0.09 per share, for the quarter ended June 30, 2022, which is unchanged from the quarter ended March 31, 2022.Total investment income for the quarter ended June 30, 2022 amounted to approximately $9.9 million, which is unchanged from the quarter ended March 31, 2022. For the quarter ended June 30, 2022 we recorded investment income from our portfolio as follows: $5.7 million from our debt investments; and$4.3 million from our CLO equity investments and other income. Our total expenses for the quarter ended June 30, 2022 were approximately $5.6 million, which is unchanged from the quarter ended March 31, 2022.As of June 30, 2022, the following metrics applied (note that none of these metrics represented a total return to shareholders): The weighted average yield of our debt investments was 9.0% at current cost, compared with 8.0% as of March 31, 2022;The weighted average effective yield of our CLO equity investments at current cost was 9.5%, compared with 8.9% as of March 31, 2022; andThe weighted average cash distribution yield of our cash income producing CLO equity investments at current cost was 20.7%, compared with 23.8% as of March 31, 2022. For the quarter ended June 30, 2022, we recorded a net decrease in net assets resulting from operations of approximately $43.4 million, consisting of: NII of approximately $4.3 million;Net realized losses of approximately $1.5 million; andNet unrealized depreciation of approximately $46.2 million. During the second quarter of...