Oxford Square Capital Corp. Financial Overview
Oxford Square Capital Corp. (NASDAQ: OXSQ) recently shared its financial performance details for the quarter ending December 31, 2024. This significant data aids investors in gauging the company's current standing and future prospects.
Distribution Announcements
On February 27, 2025, the Board of Directors at Oxford Square Capital Corp. made the announcement of dividends for common stockholders for the months concluding in April, May, and June of the same year.
Distribution Schedule
- For April 30, 2025: Record Date is April 16, 2025, with a payment of $0.035 per share.
- For May 31, 2025: Record Date is May 16, 2025, with a payment of $0.035 per share.
- For June 30, 2025: Record Date is June 16, 2025, with a payment of $0.035 per share.
Net Asset Value (NAV) Insights
The net asset value (NAV) per share recorded as of December 31, 2024, was $2.30, showing a slight decrease from $2.35 on September 30, 2024. This marginal change reflects the company's ongoing adjustments in the market.
Revenue and Net Investment Income Highlights
For the quarter that ended on December 31, 2024, Oxford Square reported a net income of approximately $6.0 million or $0.09 per share. This represents a decrease compared to approximately $6.2 million or $0.10 per share reported for the previous quarter.
Total Investment Income
- Investment income for the quarter was approximately $10.2 million compared to $10.3 million in the prior quarter.
- Key income sources included:
- $5.4 million from debt investments
- $4.1 million from CLO equity investments
- $0.8 million from other income
Expenditures and Operational Insights
Total expenses remained stable, amounting to approximately $4.2 million, identical to the previous quarter's total.
Operational Metrics
- The weighted average yield on debt investments was reported at 15.8%, an increase from 14.5% in September 2024.
- Effective yield for CLO equity investments was 8.8%, down from 9.6% previous quarter.
- Cash distribution yield on CLO equity investments reached 16.2%, improving from 15.3% last reported.
Investment Activity Summary
In Q4 2024, total investments made by Oxford Square was around $25.1 million, while approximately $22.0 million was generated from the sales and repayments of investments.
Market and Credit Rating Overview
The weighted average credit rating stood at 2.3 based on fair value, showing a slight drop from 2.4 in the prior quarter. As of December 31, 2024, there was one notable debt investment on non-accrual status, valued at around $0.5 million, along with preferred equity investments totaling around $4.6 million.
Share Issuance Details
During the quarter, the company issued approximately 1.8 million shares through an 'at-the-market' offering, resulting in net proceeds of about $5.0 million. By the close of December, there were approximately 69.8 million shares of common stock outstanding.
Upcoming Conference Call
A conference call to discuss these results will take place on the day of the announcement. Interested parties can participate by dialing the provided toll-free number.
Contact Information
For further information, individuals can reach out to Bruce Rubin at 203-983-5280.
Frequently Asked Questions
What is the net asset value for Oxford Square as of the latest report?
The net asset value (NAV) per share was reported at $2.30.
How much is the declared distribution per share for upcoming months?
The declared distribution is $0.035 per share for each of the upcoming months: April, May, and June 2025.
What was the net investment income for Q4 2024?
The net investment income for the quarter ended December 31, 2024, was approximately $6.0 million.
How much in total investment income was generated?
Total investment income for the reported quarter was approximately $10.2 million.
When is the upcoming conference call regarding financial results?
The conference call is scheduled for February 28, 2025, at 9:00 AM ET.
