Business
Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended June 30, 2023
Oxford Square Also Announces Declaration of Distributions on Common Stock for the Months Ending October 31, November 30, and December 31, 2023 and a Special
About this update from Oxford Square Capital Corp.
[{"type":"text","content":"Oxford Square Also Announces Declaration of Distributions on Common Stock for the Months Ending October 31, November 30, and December 31, 2023 and a Special Distribution of $0.12 Per Share Payable on September 29, 2023\nGREENWICH, Conn., Aug. 10, 2023 (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, 2023. On August 3, 2023, our Board of Directors declared the following distributions on our common stock: Month EndingRecord DatePayment DateAmount Per ShareSeptember 30, 2023*September 15, 2023September 29, 2023$0.120October 31, 2023October 17, 2023October 31, 2023$0.035November 30, 2023November 16, 2023November 30, 2023$0.035December 31, 2023December 15, 2023December 29, 2023$0.035 * Special Distribution. Net asset value (“NAV”) per share as of June 30, 2023 stood at $2.88, compared with a NAV per share on March 31, 2023 of $2.80. Net investment income (“NII”) was approximately $6.7 million, or $0.13 per share, for the quarter ended June 30, 2023, compared with approximately $6.5 million, or $0.13 per share, for the quarter ended March 31, 2023.Total investment income for the quarter ended June 30, 2023 amounted to approximately $13.5 million, compared with approximately $12.9 million for the quarter ended March 31, 2023. For the quarter ended June 30, 2023 we recorded investment income from our portfolio as follows: $8.8 million from our debt investments; and$4.7 million from our CLO equity investments and other income. Our total expenses for the quarter ended June 30, 2023 were approximately $6.8 million, compared with total expenses of approximately $6.5 million for the quarter ended March 31, 2023.As of June 30, 2023, 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 12.8% at current cost, compared with 12.4% as of March 31, 2023;The weighted average effective yield of our CLO equity investments at current cost was 9.2%, compared with 9.1% as of March 31, 2023; andThe weighted average cash distribution yield of our cash income producing CLO equity investments at current cost was 18.4%, compared with 15.3% as of March 31,...