Oxford Square Capital Corp. Releases Financial Results and Distributions
Oxford Square Capital Corp. has recently published its financial outcomes for the quarter ending September 30, 2024. The Company, known as a publicly-traded business development entity, primarily invests in syndicated bank loans as well as both debt and equity tranches of collateralized loan obligations (CLOs).
Distribution Announcements
In a significant move, the Company’s Board of Directors has declared several distributions on common stock. The distributions cover the months ending January 31, February 28, and March 31, 2025, with each share amounting to $0.035. Below are the details of the upcoming distributions:
Upcoming Distributions Schedule
- **January 31, 2025:** Record Date – January 17, 2025; Payment Date – January 31, 2025
- **February 28, 2025:** Record Date – February 14, 2025; Payment Date – February 28, 2025
- **March 31, 2025:** Record Date – March 17, 2025; Payment Date – March 31, 2025
Net Asset Value Overview
The net asset value (NAV) per share as of September 30, 2024, was reported at $2.35, showing a slight decline compared to $2.43 from June 30, 2024. This change prompts further examination of the factors affecting NAV fluctuations in the current market climate.
Investment Income Performance
Oxford Square Capital demonstrated a net investment income (NII) of approximately $6.2 million, translating to $0.10 per share during the latest quarter. This is a decrease from the prior quarter's NII of about $7.7 million. The total investment income was about $10.3 million for Q3 2024, down from approximately $11.4 million from the previous quarter.
Breakdown of Investment Income
- $6.1 million generated from debt investments
- $3.5 million from CLO equity investments
- $0.7 million derived from additional income streams
Total Expenses and Current Metrics
The Company incurred total expenses of roughly $4.2 million for the quarter, compared to about $3.7 million for the prior period. Additionally, as of September 30, 2024, the Company reported a net decrease in net assets of approximately $0.9 million resulting from operations, including:
- NII of approximately $6.2 million
- Realized losses near $12.9 million
- Unrealized appreciation of around $5.8 million
Investment Activity and Credit Ratings
During the recent quarter, Oxford Square made investments totaling about $47.7 million while receiving about $27.9 million from sales and repayments. The weighted average credit rating for the portfolio was reported at 2.4 based on total fair value, up slightly from 2.3 in the earlier quarter.
Future Prospects and Earnings Call
Oxford Square Capital is committed to delivering value to its investors. On the agenda is an upcoming conference call scheduled to discuss the third quarter results with key stakeholders. Investors and interested parties can access the call and participate in the dialogue concerning these important updates.
Frequently Asked Questions
What are the upcoming distribution amounts announced by Oxford Square Capital?
The upcoming distributions will be $0.035 per share for January 31, February 28, and March 31, 2025.
What was the net asset value at the end of September 2024?
The net asset value per share was recorded at $2.35 as of September 30, 2024, down from $2.43 on June 30, 2024.
How much was the net investment income for the quarter?
The net investment income for the quarter ended September 30, 2024, was approximately $6.2 million, or $0.10 per share.
What was the total investment income for Q3 2024?
The total investment income for the quarter was about $10.3 million, decreasing from the prior quarter’s amount.
What should investors expect in the upcoming earnings call?
Investors can expect detailed discussions about the financial results and future strategies of the Company.
