XAI Octagon Floating Rate & Alternative Income Trust Declares its Monthly Common Shares Distribution and Quarterly Preferred Shares Dividend
XAI Octagon Floating Rate & Alternative Income Trust (the “Trust”) has declared its regular monthly distribution of $0.085 per share of the Trust’s common shares (NYSE: XFLT). The Trust also declared preferred dividends for the quarter of $0.40625 per share of the Trust’s 6.50% Series 2026 Term Preferred Shares (NYSE: XFLTPRA).
The following dates apply to each declaration:
Share Class |
Ex-Dividend Date |
Record Date |
Payable Date |
Amount |
Change from Previous Declaration |
XFLT |
April 12, 2024 |
April 15, 2024 |
May 1, 2024 |
$0.085 |
No Change |
XFLTPRA |
April 12, 2024 |
April 15, 2024 |
April 30, 2024 |
$0.40625 |
No Change1 |
Common share distributions may be paid from net investment income (regular interest and dividends), capital gains and/or a return of capital. The specific tax characteristics of the distributions will be reported to the Trust’s common shareholders on Form 1099 after the end of the 2024 calendar year. Shareholders should not assume that the source of a distribution from the Trust is net income or profit. For further information regarding the Trust’s distributions, please visit www.xainvestments.com.
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The Trust’s net investment income and capital gain can vary significantly over time; however, the Trust seeks to maintain more stable common share monthly distributions over time. The Trust’s investments in CLOs are subject to complex tax rules and the calculation of taxable income attributed to an investment in CLO subordinated notes can be dramatically different from the calculation of income for financial reporting purposes under accounting principles generally accepted in the United States (“U.S. GAAP”), and, as a result, there may be significant differences between the Trust’s GAAP income and its taxable income. The Trust’s final taxable income for the current fiscal year will not be known until the Trust’s tax returns are filed.