Oxford Square Capital Corp. Financial Update
Oxford Square Capital Corp. (NASDAQ: OXSQ) has released its financial results for the quarter ended December 31, 2024. This report highlights the company's net asset value (NAV), declared distributions on common stock for upcoming months and insights into its operational performance.
Declared Distributions on Common Stock
On February 27, 2025, the Board of Directors declared distributions for the upcoming months:
- April 30, 2025 - Record Date: April 16, 2025; Payment Date: April 30, 2025; Amount Per Share: $0.035
- May 31, 2025 - Record Date: May 16, 2025; Payment Date: May 30, 2025; Amount Per Share: $0.035
- June 30, 2025 - Record Date: June 16, 2025; Payment Date: June 30, 2025; Amount Per Share: $0.035
Financial Highlights
As of December 31, 2024, the net asset value per share stood at $2.30, a slight decrease from $2.35 as of September 30, 2024. During the quarter, the company recorded a net investment income (NII) of approximately $6.0 million, or $0.09 per share. In comparison, the NII for the prior quarter was around $6.2 million, or $0.10 per share.
Total investment income for this quarter was approximately $10.2 million, down from approximately $10.3 million in the previous quarter. This consisted of:
- $5.4 million from debt investments
- $4.1 million from CLO equity investments
- $0.8 million from other income
The total expenses incurred by the company during the fourth quarter were approximately $4.2 million, which remained consistent with expenses from the previous quarter.
Investment Portfolio Performance
Key metrics from the investment portfolio as of December 31, 2024, included a weighted average yield of 15.8% on debt investments and an effective yield of 8.8% on CLO equity investments. Furthermore, the weighted average cash distribution yield from cash income-producing CLO equity investments rose to 16.2%.
During this quarter, Oxford Square Capital made investments totaling approximately $25.1 million and received about $22.0 million from sales and repayments of investments. As of December 31, 2024, there was one debt investment in non-accrual status valued at approximately $0.5 million, and preferred equity investments also on non-accrual status were valued at approximately $4.6 million.
Shareholder Conference Call
The company will host a conference call today to discuss the fourth quarter results at 9:00 AM ET. Interested parties can participate in the call by dialing 1-800-549-8228.
Frequently Asked Questions
What is the net asset value per share for the quarter ended December 31, 2024?
The net asset value per share stood at $2.30 as of December 31, 2024.
What were the declared distributions for April, May, and June 2025?
The distributions for these months were each set at $0.035 per share.
What was the net investment income for the fourth quarter?
The net investment income for the quarter was approximately $6.0 million, or $0.09 per share.
How did total investment income compare to the previous quarter?
Total investment income fell slightly to $10.2 million for Q4 2024, down from $10.3 million in Q3 2024.
What did the company invest in during the fourth quarter?
Oxford Square Capital made investments totaling approximately $25.1 million during the quarter.
