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

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) declared a monthly dividend on Tuesday, October 1st, Wall Street Journal reports. Stockholders of record on Tuesday, October 15th will be paid a dividend of 0.085 per share on Friday, November 1st. This represents a $1.02 dividend on an annualized basis and a dividend yield of 14.80%. The ex-dividend date of this dividend is Tuesday, October 15th.

XAI Octagon Floating Rate & Alternative Income Trust has raised its dividend payment 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. The business’s 50-day moving average is $6.88 and its two-hundred day moving average is $7.01. XAI Octagon Floating Rate & Alternative Income Trust has a 12 month low of $6.41 and a 12 month high of $7.76.

XAI Octagon Floating Rate & Alternative Income Trust Company Profile

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.