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

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) announced a monthly dividend on Wednesday, October 2nd, 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 annualized dividend and a dividend yield of 14.89%. The ex-dividend date is Tuesday, October 15th.

XAI Octagon Floating Rate & Alternative Income Trust has increased 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% meaning 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 Stock Performance

XFLT traded up $0.01 on Wednesday, reaching $6.85. 306,080 shares of the company’s stock were exchanged, compared to its average volume of 418,654. The stock’s fifty day moving average price is $6.91 and its 200-day moving average price is $7.02. XAI Octagon Floating Rate & Alternative Income Trust has a twelve month low of $6.41 and a twelve 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.