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 Friday, May 3rd, Wall Street Journal reports. Investors of record on Thursday, May 16th will be given a dividend of 0.085 per share on Monday, June 3rd. This represents a $1.02 annualized dividend and a yield of 14.41%. The ex-dividend date is Wednesday, May 15th.

XAI Octagon Floating Rate & Alternative Income Trust has increased its dividend by an average of 19.6% annually over the last three years and has increased its dividend annually for the last 1 consecutive 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 Stock Performance

XFLT opened at $7.08 on Friday. XAI Octagon Floating Rate & Alternative Income Trust has a twelve month low of $6.26 and a twelve month high of $7.76. The company has a 50-day moving average price of $7.08 and a 200 day moving average price of $7.09.

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.