XAI Octagon Floating Rate & Alternative Income Trust to Issue Monthly Dividend of $0.08 (NYSE:XFLT)

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) announced a monthly dividend on Monday, March 3rd, Wall Street Journal reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.077 per share on Tuesday, April 1st. This represents a $0.92 annualized dividend and a dividend yield of 14.39%. The ex-dividend date is Monday, March 17th.

XAI Octagon Floating Rate & Alternative Income Trust has raised its dividend payment by an average of 27.0% annually over the last three years.

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

Shares of NYSE XFLT traded down $0.02 during mid-day trading on Tuesday, hitting $6.42. The company had a trading volume of 362,917 shares, compared to its average volume of 623,954. XAI Octagon Floating Rate & Alternative Income Trust has a 1 year low of $6.29 and a 1 year high of $7.30. The stock’s 50-day moving average price is $6.55 and its 200-day moving average price is $6.75.

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.