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

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 paid a dividend of 0.085 per share on Thursday, August 1st. This represents a $1.02 dividend on an annualized basis and a dividend yield of 14.42%. The ex-dividend date is Monday, July 15th.

XAI Octagon Floating Rate & Alternative Income Trust has raised 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% indicating that 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 Stock Up 0.5 %

Shares of NYSE:XFLT traded up $0.04 during midday trading on Tuesday, reaching $7.08. The company had a trading volume of 281,805 shares, compared to its average volume of 382,642. The stock’s fifty day moving average price is $7.10 and its 200-day moving average price is $7.15. XAI Octagon Floating Rate & Alternative Income Trust has a one year low of $6.41 and a one year 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.