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

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) announced a monthly dividend on Friday, November 1st,NASDAQ Dividends reports. Stockholders of record on Friday, November 15th will be given 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 14.57%. The ex-dividend date is Friday, November 15th.

XAI Octagon Floating Rate & Alternative Income Trust has raised its dividend by an average of 19.6% per year 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 Trading Up 0.3 %

XFLT stock traded up $0.02 during trading on Wednesday, hitting $7.00. The stock had a trading volume of 320,452 shares, compared to its average volume of 437,421. The company’s 50-day moving average price is $6.87 and its two-hundred day moving average price is $6.98. XAI Octagon Floating Rate & Alternative Income Trust has a twelve month low of $6.53 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.