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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.
Il XAI Octagon Floating Rate & Alternative Income Trust ha annunciato una distribuzione mensile di $0,085 per azione per le sue azioni comuni (NYSE: XFLT). La distribuzione sarà pagabile il 3 giugno 2024, con data di registrazione il 16 maggio 2024. L'importo è rimasto invariato rispetto al mese precedente. Le distribuzioni delle azioni comuni possono provenire da diverse fonti, e gli azionisti dovrebbero essere consapevoli delle implicazioni fiscali. Gli investimenti del Trust in CLO sono soggetti a regole fiscali complesse. L'obiettivo del Trust è quello di ottenere un ritorno totale attraente con un focus sulla generazione di reddito.
El XAI Octagon Floating Rate & Alternative Income Trust ha declarado una distribución mensual de $0.085 por acción para sus acciones comunes (NYSE: XFLT). La distribución se pagará el 3 de junio de 2024, con una fecha de registro del 16 de mayo de 2024. La cantidad permanece sin cambios respecto al mes anterior. Las distribuciones de las acciones comunes pueden provenir de diversas fuentes, y los accionistas deben estar conscientes de las implicaciones fiscales. Las inversiones del Trust en CLOs están sujetas a reglas fiscales complejas. El objetivo del Trust es lograr un retorno total atractivo con un enfoque en la generación de ingresos.
XAI Octagon Floating Rate & Alternative Income Trust는 자사의 보통주(NYSE: XFLT)에 대해 주당 $0.085의 월간 배당을 선언했습니다. 이 배당금은 2024년 6월 3일에 지급될 예정이며, 기록일은 2024년 5월 16일입니다. 금액은 전월과 동일합니다. 보통주 배당금은 다양한 출처에서 나올 수 있으며, 주주들은 세금 관련 영향을 인지해야 합니다. Trust의 CLO 투자는 복잡한 세금 규정의 대상입니다. Trust의 목표는 소득 생성에 중점을 둔 매력적인 총 수익을 달성하는 것입니다.
Le XAI Octagon Floating Rate & Alternative Income Trust a déclaré une distribution mensuelle de 0,085 $ par action pour ses actions ordinaires (NYSE: XFLT). Cette distribution sera payable le 3 juin 2024, avec une date d'enregistrement le 16 mai 2024. Le montant reste inchangé par rapport au mois précédent. Les distributions d'actions ordinaires peuvent provenir de différentes sources, et les actionnaires doivent être conscients des implications fiscales. Les investissements du Trust dans les CLO sont soumis à des règles fiscales complexes. L'objectif du Trust est de réaliser un rendement total attractif, avec un accent sur la génération de revenus.
Der XAI Octagon Floating Rate & Alternative Income Trust hat eine monatliche Ausschüttung von $0,085 pro Aktie für seine Stammaktien (NYSE: XFLT) bekanntgegeben. Die Ausschüttung ist zahlbar am 3. Juni 2024 mit einem Stichtag am 16. Mai 2024. Der Betrag bleibt im Vergleich zum Vormonat unverändert. Die Ausschüttungen von Stammaktien können aus verschiedenen Quellen stammen, und Aktionäre sollten sich der steuerlichen Auswirkungen bewusst sein. Die Investitionen des Trusts in CLOs unterliegen komplexen Steuervorschriften. Das Ziel des Trusts ist es, eine attraktive Gesamtrendite zu erzielen, mit einem Schwerpunkt auf Einkommensgenerierung.
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CHICAGO--(BUSINESS WIRE)--
XAI Octagon Floating Rate & Alternative Income Trust (the “Trust”) has declared its regular monthly distribution of $0.085 per share on the Trust’s common shares (NYSE: XFLT), payable on June 3, 2024, to common shareholders of record as of May 16, 2024, as noted below. The amount of the distribution represents no change from the previous month's distribution amount of $0.085 per share.
The following dates apply to the declaration:
Ex-Dividend Date
May 15, 2024
Record Date
May 16, 2024
Payable Date
June 3, 2024
Amount
$0.085 per common share
Change from Previous Month
No change
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.
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.
As a registered investment company, the Trust is subject to a 4% excise tax that is imposed if the Trust does not distribute to common shareholders by the end of any calendar year at least the sum of (i) 98% of its ordinary income (not taking into account any capital gain or loss) for the calendar year and (ii) 98.2% of its capital gain in excess of its capital loss (adjusted for certain ordinary losses) for a one-year period generally ending on October 31 of the calendar year (unless an election is made to use the Trust’s fiscal year). In certain circumstances, the Trust may elect to retain income or capital gain to the extent that the Board of Trustees, in consultation with Trust management, determines it to be in the interest of shareholders to do so.
The common share distributions paid by the Trust for any particular period may be more than the amount of net investment income from that period. As a result, all or a portion of a distribution may be a return of capital, which is in effect a partial return of the amount a common shareholder invested in the Trust, up to the amount of the common shareholder’s tax basis in their common shares, which would reduce such tax basis. Although a return of capital may not be taxable, it will generally increase the common shareholder’s potential gain, or reduce the common shareholder’s potential loss, on any subsequent sale or other disposition of common shares.
The distribution shall be paid on the Payment Date unless the payment of such distribution is deferred by the Board of Trustees upon a determination that such deferral is required in order to comply with applicable law to ensure that the Trust remains solvent and able to pay its debts as they become due and continue as a going concern, or to comply with the applicable terms or financial covenants of the Trust’s senior securities.
Future common share distributions will be made if and when declared by the Trust’s Board of Trustees, based on a consideration of number of factors, including the Trust’s continued compliance with terms and financial covenants of its senior securities, the Trust’s net investment income, financial performance and available cash. There can be no assurance that the amount or timing of common share distributions in the future will be equal or similar to that described herein or that the Board of Trustees will not decide to suspend or discontinue the payment of common share distributions in the future.
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The investment objective of the Trust is to seek attractive total return with an emphasis on income generation across multiple stages of the credit cycle. The Trust seeks to achieve its investment objective by investing in a dynamically managed portfolio of opportunities primarily within the private credit markets. Under normal market conditions, the Trust will invest at least 80% of its Managed Assets in floating rate credit instruments and other structured credit investments. There can be no assurance that the Trust will achieve its investment objective.
The Trust’s common shares are traded on the New York Stock Exchange under the symbol “XFLT,” and the Trust’s 6.50% Series 2026 Term Preferred Shares are traded on the New York Stock Exchange under the symbol “XFLTPRA”.
About XA Investments
XA Investments LLC (“XAI”) serves as the Trust’s investment adviser. XAI is a Chicago-based firm founded by XMS Capital Partners in April, 2016. In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including development and market research, sales, marketing, fund management and administration. XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. XAI provides individual investors with access to institutional-caliber alternative managers. For more information, please visit www.xainvestments.com.
About XMS Capital Partners
XMS Capital Partners, LLC, established in 2006, is a global, independent, financial services firm providing M&A, corporate advisory and asset management services to clients. It has offices in Chicago, Boston and London. For more information, please visit www.xmscapital.com.
About Octagon Credit Investors
Octagon Credit Investors, LLC (“Octagon”) serves as the Trust’s investment sub-adviser. Octagon is a 25+ year old, $34.4B below-investment grade corporate credit investment adviser focused on leveraged loan, high yield bond and structured credit (CLO debt and equity) investments. Through fundamental credit analysis and active portfolio management, Octagon’s investment team identifies attractive relative value opportunities across below-investment grade asset classes, sectors and issuers. Octagon’s investment philosophy and methodology encourage and rely upon dynamic internal communication to manage portfolio risk. Over its history, the firm has applied a disciplined, repeatable and scalable approach in its effort to generate attractive risk-adjusted returns for its investors. For more information, please visit www.octagoncredit.com.
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XAI does not provide tax advice; please consult a professional tax advisor regarding your specific tax situation. Income may be subject to state and local taxes, as well as the federal alternative minimum tax.
Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Trust carefully before investing. For more information on the Trust, please visit the Trust’s webpage at www.xainvestments.com.
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
When is the monthly distribution for XAI Octagon Floating Rate & Alternative Income Trust's common shares (XFLT) payable?
The monthly distribution of $0.085 per share is payable on June 3, 2024.
What is the record date for XAI Octagon Floating Rate & Alternative Income Trust's common shares (XFLT) distribution?
The record date for the distribution is May 16, 2024.
Where are XAI Octagon Floating Rate & Alternative Income Trust's common shares (XFLT) traded?
The common shares are traded on the New York Stock Exchange under the symbol 'XFLT'.
What is the investment objective of XAI Octagon Floating Rate & Alternative Income Trust?
The Trust aims to achieve an attractive total return with a focus on income generation across various stages of the credit cycle by investing in private credit markets.
XAI Octagon Floating Rate and Alternative Income Trust Common Shares of Beneficial Interest
