XAI Octagon Floating Rate & Alternative Income Trust Ups Monthly Payout to $0.30 After 1-for-5 Reverse Split
XAI Octagon Floating Rate & Alternative Income Trust will combine every five common shares into one via a 1-for-5 reverse stock split effective 5:00pm ET March 20, 2026, with post-split trading beginning March 23, 2026. Its monthly distribution rate will increase from $0.06 to $0.30 per share post-split.
1. Reverse Stock Split Details
The Trust's Board approved a 1-for-5 reverse stock split, combining every five common shares into one without altering par value or ownership percentages. The reverse split becomes effective at 5:00pm Eastern Time on March 20, 2026, and post-split shares will begin trading on the NYSE at market open March 23, 2026 under the existing symbol.
2. Distribution Adjustment
Following the reverse split, the Trust will increase its previously announced monthly distribution from $0.06 to $0.30 per share. The ex-dividend and record date for the adjusted distribution is March 16, 2026, with a payable date of April 1, 2026.
3. Fractional Shares and CUSIP
No fractional shares will be issued; shareholders entitled to fractions will receive cash in lieu. The post-split common shares will trade under a new CUSIP number 98400T 304.
4. Shareholder Procedures
Shareholders holding common shares through banks, brokers or other nominees are not required to take any action. Those holding shares in book-entry form will receive transaction confirmations reflecting post-split ownership from the Trust’s transfer agent, Equiniti Trust Company.