XAI Octagon Floating Rate & Alternative Income Trust to Issue Monthly Dividend of $0.09 (NYSE:XFLT)

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) declared a monthly dividend on Tuesday, September 3rd, Wall Street Journal reports. Shareholders of record on Tuesday, September 17th will be given a dividend of 0.085 per share on Tuesday, October 1st. This represents a $1.02 annualized dividend and a yield of 14.80%. The ex-dividend date is Tuesday, September 17th.

XAI Octagon Floating Rate & Alternative Income Trust has increased its dividend by an average of 19.6% per year over the last three years. XAI Octagon Floating Rate & Alternative Income Trust has a payout ratio of 87.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

NYSE XFLT opened at $6.89 on Monday. XAI Octagon Floating Rate & Alternative Income Trust has a 52 week low of $6.41 and a 52 week high of $7.76. The company has a fifty day moving average of $6.96 and a two-hundred day moving average of $7.05.

About XAI Octagon Floating Rate & Alternative Income Trust

XAI Octagon Floating Rate & Alternative Income Term Trust invests in a dynamically managed portfolio of floating-rate credit instruments and other structured credit investments within the private markets. Under normal market conditions, the Trust will invest at least 80% of managed assets in senior secured loans, CLO debt and CLO equity.

The Trust seeks attractive total return with an emphasis on income generation across multiple stages of the credit cycle.