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

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) announced a monthly dividend on Thursday, August 1st, Wall Street Journal reports. Shareholders of record on Thursday, August 15th will be paid a dividend of 0.085 per share on Tuesday, September 3rd. This represents a $1.02 dividend on an annualized basis and a yield of 14.66%. The ex-dividend date is Thursday, August 15th.

XAI Octagon Floating Rate & Alternative Income Trust has raised its dividend payment 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 fall.

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

NYSE XFLT opened at $6.96 on Friday. The business has a fifty day simple moving average of $7.09 and a 200 day simple moving average of $7.13. XAI Octagon Floating Rate & Alternative Income Trust has a 12 month low of $6.41 and a 12 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.