Apollo Senior Floating Rate Fund (AFT) Declares $0.12 Dividend
Apollo Senior Floating Rate Fund said on May 11, 2023 that its board of directors declared a regular monthly dividend of $0.12 per share ($1.42 annualized). Previously, the company paid $0.11 per share.
Shares must be purchased before the ex-div date of May 22, 2023 to qualify for the dividend. Shareholders of record as of May 23, 2023 will receive the payment on May 31, 2023.
At the current share price of $12.46 / share, the stock's dividend yield is 11.36%.
Looking back five years and taking a sample every week, the average dividend yield has been 7.95%, the lowest has been 5.53%, and the highest has been 12.71%. The standard deviation of yields is 1.32 (n=196).
The current dividend yield is 2.59 standard deviations above the historical average.
The company's 3-Year dividend growth rate is 0.07%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 59 funds or institutions reporting positions in Apollo Senior Floating Rate Fund. This is a decrease of 2 owner(s) or 3.28% in the last quarter. Average portfolio weight of all funds dedicated to AFT is 0.11%, an increase of 81.28%. Total shares owned by institutions increased in the last three months by 1.11% to 5,184K shares.
What are Other Shareholders Doing?
Wells Fargo holds 494K shares. In it's prior filing, the firm reported owning 479K shares, representing an increase of 3.00%. The firm decreased its portfolio allocation in AFT by 66.07% over the last quarter.
Next Capital Management holds 378K shares. In it's prior filing, the firm reported owning 381K shares, representing a decrease of 0.64%. The firm increased its portfolio allocation in AFT by 90,946.00% over the last quarter.
Oaktree Capital Management holds 373K shares. In it's prior filing, the firm reported owning 276K shares, representing an increase of 25.95%. The firm increased its portfolio allocation in AFT by 27.57% over the last quarter.
Advisors Asset Management holds 313K shares. In it's prior filing, the firm reported owning 300K shares, representing an increase of 4.30%. The firm increased its portfolio allocation in AFT by 5.60% over the last quarter.
Invesco holds 279K shares. In it's prior filing, the firm reported owning 252K shares, representing an increase of 9.84%. The firm decreased its portfolio allocation in AFT by 89.99% over the last quarter.
Apollo Senior Floating Rate Fund Background Information
(This description is provided by the company.)
Apollo Senior Floating Rate Fund Inc. (the "Fund") is a diversified, closed-end management investment company. The Fund’s investment objective is to seek current income and preservation of capital by investing primarily in senior, secured loans made to companies whose debt is rated below investment grade and investments with similar economic characteristics. Senior loans typically hold a first lien priority and pay floating rates of interest, generally quoted as a spread over a reference floating rate benchmark. Under normal market conditions, the Fund invests at least 80% of its managed assets (which includes leverage) in floating rate senior loans and investments with similar economic characteristics.
This story originally appeared on Fintel.