Business
Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended March 31, 2024 and Declaration of Distributions on Common Stock for the Months Ending July 31, August 31, and September 30, 2024
GREENWICH, Conn., May 02, 2024 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQZ) (NasdaqGS: OXSQG) (the “Company,” “we,” “us”
About this update from Oxford Square Capital Corp.
[{"type":"text","content":"GREENWICH, Conn., May 02, 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 March 31, 2024. On April 25, 2024, our Board of Directors declared the following distributions on our common stock: Month EndingRecord DatePayment DateAmount Per ShareJuly 31, 2024July 17, 2024July 31, 2024$0.035August 31, 2024August 16, 2024August 30, 2024$0.035September 30, 2024September 16, 2024September 30, 2024$0.035 Net asset value (“NAV”) per share as of March 31, 2024 stood at $2.42, compared with a NAV per share on December 31, 2023 of $2.55.Net investment income (“NII”) was approximately $6.5 million, or $0.11 per share, for the quarter ended March 31, 2024, compared with approximately $7.8 million, or $0.13 per share, for the quarter ended December 31, 2023.Total investment income for the quarter ended March 31, 2024 amounted to approximately $10.7 million, compared with approximately $12.3 million for the quarter ended December 31, 2023. For the quarter ended March 31, 2024 we recorded investment income from our portfolio as follows: $6.4 million from our debt investments;$3.9 million from our CLO equity investments; and$324,000 from other income. Our total expenses for the quarter ended March 31, 2024 were approximately $4.1 million, compared with total expenses of approximately $4.6 million for the quarter ended December 31, 2023.As of March 31, 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 13.9% at current cost, compared with 13.3% as of December 31, 2023;The weighted average effective yield of our CLO equity investments at current cost was 9.5%, compared with 9.5% as of December 31, 2023; andThe weighted average cash distribution yield of our cash income producing CLO equity investments at current cost was 13.7%, compared with 16.3% as of December 31, 2023. For the quarter ended March 31, 2024, we recorded a net decrease in net assets resulting from operations of approximately $1.8 million, consisting of: NII of approximately $6.5 million;Net realized losses of approximately $8.1 million; andNet unrealized depreciation of approximately $211,000...