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

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) announced a monthly dividend on Monday, February 3rd,Wall Street Journal reports. Stockholders of record on Tuesday, February 18th will be given a dividend of 0.077 per share on Monday, March 3rd. This represents a $0.92 annualized dividend and a dividend yield of 13.99%. The ex-dividend date of this dividend is Tuesday, February 18th.

XAI Octagon Floating Rate & Alternative Income Trust has raised its dividend payment by an average of 29.3% per year over the last three years.

XAI Octagon Floating Rate & Alternative Income Trust Stock Performance

XFLT traded up $0.03 during trading on Tuesday, reaching $6.61. 472,379 shares of the stock traded hands, compared to its average volume of 679,208. The stock’s 50-day moving average is $6.67 and its 200 day moving average is $6.82. XAI Octagon Floating Rate & Alternative Income Trust has a 12 month low of $6.29 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.