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

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) announced a monthly dividend on Monday, July 1st, NASDAQ reports. Investors of record on Monday, July 15th will be given a dividend of 0.085 per share on Thursday, August 1st. This represents a $1.02 annualized dividend and a yield of 14.42%. The ex-dividend date is Monday, July 15th.

XAI Octagon Floating Rate & Alternative Income Trust has increased its dividend by an average of 19.6% annually over the last three years. XAI Octagon Floating Rate & Alternative Income Trust has a dividend 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 tumble.

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

Shares of NYSE XFLT opened at $7.08 on Wednesday. The business’s 50 day moving average price is $7.10 and its two-hundred day moving average price is $7.15. XAI Octagon Floating Rate & Alternative Income Trust has a twelve month low of $6.41 and a twelve month high of $7.76.

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.