XAI Octagon Floating Rate and Alternative Income Trust Common Shares of Beneficial Interest - XFLT STOCK NEWS

XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) has declared its monthly distribution of $0.085 per common share, payable on September 3, 2024, to shareholders of record as of August 15, 2024. This distribution amount remains unchanged from the previous month. The Trust aims to maintain stable monthly distributions, which may be sourced from net investment income, capital gains, or return of capital. XFLT's investment objective is to seek attractive total return with an emphasis on income generation across multiple stages of the credit cycle, primarily investing in private credit markets. Under normal conditions, at least 80% of its Managed Assets are invested in floating rate credit instruments and structured credit investments.

XA Investments (XAI) has announced a pending transaction to become the investment adviser for the Madison Covered Call & Equity Strategy Fund (NYSE: MCN), a $146 million listed closed-end fund. This move is subject to MCN shareholder approval and is expected to occur in Q4 2024. Notably, Madison Investments will retain portfolio management responsibilities as sub-adviser, also pending shareholder approval.

The acquisition would expand XAI's closed-end fund platform to three funds. Ray Di Bernardo, who has managed MCN for 20 years, expressed excitement about continuing to deliver lower volatility and strong cash flows to shareholders. XAI aims to provide superior growth in assets under management, continuity of the existing portfolio management team, and enhanced investor relations for MCN shareholders.

XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) announced its regular monthly distribution of $0.085 per common share, with key dates set for July 15, 2024 (ex-dividend and record date), and August 1, 2024 (payable date). No change in amount from previous declarations.

The Trust also declared a quarterly dividend of $0.40625 per share for its 6.50% Series 2026 Term Preferred Shares (NYSE: XFLTPRA), with a payable date of July 31, 2024. Distributions may include net investment income, capital gains, and return of capital.

As a registered investment company, the Trust must distribute significant income to avoid excise tax. Preferred shareholders have priority in distributions, and dividend amounts are cumulative. Future distributions will be based on several factors, including financial performance and compliance with covenants.

For more details, shareholders can visit www.xainvestments.com.

XA Investments (XAI) has appointed Kevin Davis, CFP®, as Managing Director and Head of Sales & Distribution. Davis brings over 25 years of experience in alternative investment management, focusing on distribution. He previously held senior roles at BNY Mellon, Fidelity, Salient Partners, and Sun Life. At XAI, Davis will lead the distribution of the Octagon XAI CLO Income Fund (OCTIX) and future funds. XAI's closed-end fund, XAI Octagon Floating Rate & Alternative Trust (XFLT), had $679M in assets as of May 31, 2024. Davis' appointment aims to capitalize on rising demand for interval funds.

XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) has announced a Purchase Agreement with institutional investors for the sale of 1,800,000 shares of its 6.95% Series II 2029 Convertible Preferred Shares. These shares, due December 2029, have a liquidation preference of $25 per share and will bring in approximately $41.85 million in net proceeds. The shares will pay a quarterly dividend at an annual rate of 6.95% and can be converted into common shares six months after issuance. The convertible preferred shares must be redeemed by December 31, 2029, at their liquidation preference plus unpaid dividends. The shares won't be listed on any exchange and are non-transferable without the Trust's consent.

XAI Octagon Floating Rate & Alternative Income Trust (XFLT) has announced its monthly distribution of $0.085 per common share, maintaining the same amount as the previous month. The distribution is payable on July 1, 2024, to shareholders recorded as of June 17, 2024. The Trust's distributions can include net investment income, capital gains, and return of capital. The specifics of the distribution's tax characteristics will be detailed in Form 1099 at the end of 2024. XFLT ensures stable monthly distributions despite potential variations in net investment income and capital gains. The Trust aims to achieve attractive total returns through investments in floating rate credit instruments and private credit markets. Future distributions depend on several factors including financial performance and compliance with senior securities' terms.

XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) announced that it will host its Q1 2024 Quarterly Webinar on May 30, 2024, at 11:00 am ET. The event will be moderated by Kimberly Flynn, President at XA Investments, with participation from Steven Perry, Vice President at XAI, and Lauren Law, Senior Portfolio Manager at Octagon Credit Investors. The Trust focuses on generating attractive total returns with an emphasis on income through investments in private credit markets, primarily in floating rate credit instruments. The Trust trades on the NYSE under the symbol XFLT, and its 6.50% Series 2026 Term Preferred Shares trade under XFLTPRA.

XAI Octagon Floating Rate & Alternative Income Trust has declared a monthly distribution of $0.085 per share for its common shares (NYSE: XFLT). The distribution is payable on June 3, 2024, with a record date of May 16, 2024. The amount remains unchanged from the previous month. Common share distributions may come from various sources, and shareholders should be aware of the tax implications. The Trust's investments in CLOs are subject to complex tax rules. The Trust's objective is to achieve attractive total return with a focus on income generation.