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 Friday, November 1st,NASDAQ Dividends reports. Investors of record on Friday, November 15th will be paid a dividend of 0.085 per share on Monday, December 2nd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 14.59%. The ex-dividend date is Friday, November 15th.

XAI Octagon Floating Rate & Alternative Income Trust has increased its dividend payment by an average of 19.6% annually 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 decline.

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

Shares of NYSE XFLT traded up $0.01 during midday trading on Wednesday, reaching $6.99. 463,883 shares of the company traded hands, compared to its average volume of 438,073. XAI Octagon Floating Rate & Alternative Income Trust has a 52 week low of $6.53 and a 52 week high of $7.76. The stock has a 50-day moving average price of $6.87 and a 200 day moving average price of $6.98.

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.