Business
Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended September 30, 2023 and Declaration of Distributions on Common Stock for the Months Ending January 31, February 29, and March 31, 2024
GREENWICH, Conn., Nov. 07, 2023 (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., Nov. 07, 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 September 30, 2023. On November 2, 2023, our Board of Directors declared the following distributions on our common stock: Month EndingRecord DatePayment DateAmount Per ShareJanuary 31, 2024January 17, 2024January 31, 2024$0.035February 29, 2024February 15, 2024February 29, 2024$0.035March 31, 2024March 15, 2024March 29, 2024$0.035 Net asset value (“NAV”) per share as of September 30, 2023 stood at $2.78, compared with a NAV per share on June 30, 2023 of $2.88. Net investment income (“NII”) was approximately $6.4 million, or $0.11 per share, for the quarter ended September 30, 2023, compared with approximately $6.7 million, or $0.13 per share, for the quarter ended June 30, 2023.Total investment income for the quarter ended September 30, 2023 amounted to approximately $13.0 million, compared with approximately $13.5 million for the quarter ended June 30, 2023. For the quarter ended September 30, 2023 we recorded investment income from our portfolio as follows: $8.5 million from our debt investments;$4.1 million from our CLO equity investments; and$0.5 million from other income. Our total expenses for the quarter ended September 30, 2023 were approximately $6.6 million, compared with total expenses of approximately $6.8 million for the quarter ended June 30, 2023.As of September 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 13.1% at current cost, compared with 12.8% as of June 30, 2023;The weighted average effective yield of our CLO equity investments at current cost was 9.7%, compared with 9.2% as of June 30, 2023; andThe weighted average cash distribution yield of our cash income producing CLO equity investments at current cost was 20.1%, compared with 18.4% as of June 30, 2023. For the quarter ended September 30, 2023, we recorded a net increase in net assets resulting from operations of approximately $6.7 million, consisting of: NII of approximately $6.4 million;Net realized losses of approximately $13.6 million; andNet unrealized appr...