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

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) announced a monthly dividend on Wednesday, October 2nd, Wall Street Journal reports. Shareholders of record on Tuesday, October 15th will be given a dividend of 0.085 per share on Friday, November 1st. This represents a $1.02 dividend on an annualized basis and a yield of 14.89%. The ex-dividend date of this dividend is Tuesday, October 15th.

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 dividend 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 decline.

XAI Octagon Floating Rate & Alternative Income Trust Stock Up 0.1 %

Shares of XFLT traded up $0.01 during trading hours on Wednesday, hitting $6.85. The company had a trading volume of 306,080 shares, compared to its average volume of 418,654. XAI Octagon Floating Rate & Alternative Income Trust has a 52-week low of $6.41 and a 52-week high of $7.76. The stock’s 50 day moving average price is $6.91 and its 200 day moving average price is $7.02.

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.