Business
Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended June 30, 2024 and Declaration of Distributions on Common Stock for the Months Ending October 31, November 30, and December 31, 2024
GREENWHICH, Conn., Aug. 13, 2024 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQZ) (NasdaqGS: OXSQG) (the “Company,” “we,”
About this update from Oxford Square Capital Corp.
[{"type":"text","content":"GREENWHICH, Conn., Aug. 13, 2024 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQZ) (NasdaqGS: OXSQG) (the “Company,” “we,” “us” or “our”) announced today its financial results and related information for the quarter ended June 30, 2024. On August 8, 2024, our Board of Directors declared the following distributions on our common stock: Month EndingRecord DatePayment DateAmount Per ShareOctober 31, 2024October 17, 2024October 31, 2024$0.035November 30, 2024November 15, 2024November 29, 2024$0.035December 31, 2024December 17, 2024December 31, 2024$0.035 Net asset value (“NAV”) per share as of June 30, 2024 stood at $2.43, compared with a NAV per share on March 31, 2024 of $2.42. Net investment income (“NII”) was approximately $7.7 million, or $0.13 per share, for the quarter ended June 30, 2024, compared with approximately $6.5 million, or $0.11 per share, for the quarter ended March 31, 2024.Total investment income for the quarter ended June 30, 2024 amounted to approximately $11.4 million, compared with approximately $10.7 million for the quarter ended March 31, 2024. For the quarter ended June 30, 2024 we recorded investment income from our portfolio as follows: $7.0 million from our debt investments;$3.9 million from our CLO equity investments; and$0.5 million from other income. Our total expenses for the quarter ended June 30, 2024 were approximately $3.7 million, compared with total expenses of approximately $4.1 million for the quarter ended March 31, 2024.As of June 30, 2024, 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 13.7% at current cost, compared with 13.9% as of March 31, 2024;The weighted average effective yield of our CLO equity investments at current cost was 9.4%, compared with 9.5% as of March 31, 2024; andThe weighted average cash distribution yield of our cash income producing CLO equity investments at current cost was 16.2%, compared with 13.7% as of March 31, 2024. For the quarter ended June 30, 2024, we recorded a net increase in net assets resulting from operations of approximately $5.3 million, consisting of: NII of approximately $7.7 million;Net realized losses of approximately $30.4 million; andNet unrealized appreciation of approximately $28.0 million. Du...