XFLT-A XAI Octagon Floating Rate & Alternative Income Term Trust 6.50% Series 2026 Term Preferred

The 2026 Preferred Shares pay a quarterly dividend at a fixed annual rate of 6.50% of the liquidation preference, or $1.625 per share, per year. The dividend rate is subject to adjustment under certain circumstances. Cumulative cash dividends or distributions on each 2026 Preferred Share are payable quarterly, when, as and if declared, or under authority granted, by the Board of Trustees of the Trust out of funds legally available for such payment. The Trust will pay dividends on the 2026 Preferred Shares every January 31, April 30, July 31 and October 31, commencing July 31, 2021. The Trust is required to redeem, out of funds legally available therefor, all outstanding 2026 Preferred Shares on March 31, 2026, or the “Term Redemption Date,” at a price equal to the liquidation preference plus an amount equal to accumulated but unpaid dividends and distributions, if any, on such shares (whether or not earned or declared, but excluding interest on such dividends) to, but excluding, the Term Redemption Date.  This security was issued by XAI Octagon Floating Rate & Alternative Income Term Trust CEF, whose common stock symbol is XFLT.

$25.29  -0.06 (-0.22%)
As of 07/01/2022 15:07:06 EST     IEX book   CBOE book


Security Information
Category1:  US Equity
Category2:  Preferred stocks
Category3:  Non-convertible
GICS sector:  Financials
Industry:  
Index country:  USA
Country of incorporation:  
IPO date:  04/05/2021
Outstanding shares:  1,040,000
Average volume:  2,323
Market cap:   $26,301,600
Current dividend yield:  6.43%    calculation
Coupon rate:    6.500%
Cumulative:    Yes
Liquidation value:   $25.00
Callable after:   01/01/1900
Maturity date:    03/31/2026
Prospectus:    Read on SEC.gov
All SEC filings:     SEC Edgar Online
Quarterly filings:   10-Q
Annual filings:      10-K
Sedol:      

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