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

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) announced a dividend on Monday, December 2nd,NASDAQ Dividends reports. Investors of record on Monday, December 16th will be given a dividend of 0.077 per share on Monday, December 30th. The ex-dividend date is Monday, December 16th.

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 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 Price Performance

Shares of XFLT stock traded down $0.32 during trading hours on Tuesday, hitting $6.83. 3,630,543 shares of the company’s stock traded hands, compared to its average volume of 461,539. XAI Octagon Floating Rate & Alternative Income Trust has a 12-month low of $6.53 and a 12-month high of $7.76. The stock’s fifty day simple moving average is $6.90 and its two-hundred day simple moving average is $6.97.

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.