In this article we discuss the 5 best dividend stocks to buy under $10. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Dividend Stocks to Buy Under $10.
5. Oxford Lane Capital Corp. (NASDAQ: OXLC)
Dividend Yield: 11.67%
No. of Hedge Fund Holders: 3
Oxford Lane Capital Corp. (NASDAQ: OXLC) is a management investment firm. It ranks 5th in our list of best dividend stocks to buy now under $10.
The company recently announced that underwriters can exercise their option to purchase an extra $13.0 million worth of notes as part of its public offering of 6.75% unsecured notes due in 2031. Oxford Lane Capital plans to use the proceeds from the public offering to invest in more opportunities. The public offer was for a total of $87.0 million in unsecured notes before the underwriter’s option. Some of the funds will also be used to redeem its 7.50% Series preferred shares.
Oxford Lane Capital Corp. (NASDAQ: OXLC) revealed that its GAAP net investment income in Q4 2020 amounted to $87.0 million, equivalent to $0.21 per share. Its net asset value as of December 31 was $5.44 per share, an improvement compared to the $3.88 NAV per share as of September 20, 2020.