BlackRock Floating Rate Income Trust (NYSE: BGT) has announced a monthly dividend of $0.1203 per share, scheduled for distribution on December 31, 2023. This declaration was made on December 12, 2023, and shareholders on record as of December 22, 2023 will be eligible to receive this dividend. The payment reflects an annualized rate that translates to a dividend yield of 12.7%.
Trading activity for BGT saw a modest increase of 0.4% on the day of the announcement, with shares opening at $11.38. Over the past year, the stock has fluctuated between a low of $10.21 and a high of $13.14. The company’s fifty-day moving average stands at $11.51, while the two-hundred-day moving average is recorded at $12.10.
Investment Strategy and Portfolio Focus
The BlackRock Floating Rate Income Trust is a diversified, closed-end management investment company designed to generate current income through the investment of floating rate debt instruments. Managed by BlackRock Advisors, the trust primarily invests in senior secured loans, high-yield corporate debt, collateralized loan obligations (CLOs), and various other floating rate credit products.
By concentrating on floating rate securities, the trust aims to provide investors with a safeguard against rising interest rates while seeking to deliver consistent income. The portfolio is developed via a research-driven approach led by a dedicated team of credit specialists within BlackRock’s Global Credit platform.
Investors interested in receiving updates about BlackRock Floating Rate Income Trust can subscribe to MarketBeat’s free daily email newsletter, which offers concise summaries of the latest news and analyst ratings related to the trust and similar investment opportunities.
This dividend announcement underscores BlackRock’s commitment to providing value to its investors, reflecting the firm’s ongoing focus on generating income through strategically selected floating rate securities.
