On February 4, 2020, I bought 130 shares of First Trust Specialty Finance and Financial Opportunities Fund (FGB) at $6.11 per share. With its quarterly dividend payout of 0.135 dollars per share, this latest buy has a dividend yield of 8.8% and will pay us $18.22 (before tax) every quarter. Awesome! 

FGB has been in our portfolio since July 2018, since then I have been buying FGB several more times, in April and July 2019. My average cost per share so far for acquiring FGB is $6.19/per share

Unfortunately FGB stock is not a stock I'm looking to hold for the long term, as at the end of 2019, there was a dividend cut. I mostly bought FGB now to boost our dividend income in February. 

FGB pays dividends in February, May, August, and December

If there are no more dividend cuts this year, then for the rest of the year, we are looking to take $59.67 (after tax) from this buy, which is about 1.65% from our $3,600 goal for 2020

2019 in Review and Financial Goals for 2020

By now FGB stock takes 12% from our US stock portfolio, and also is one of the biggest dividend payers in the portfolio by now. 

In total FGB now contributes about $197.37 (after tax) yearly to the dividend income portfolio.

About First Trust Specialty Finance and Financial Opportunities Fund (FGB)

The First Trust Specialty Finance and Financial Opportunities Fund is a non-diversified, closed-end management investment company. The Fund's primary investment objective is to seek a high level of current income. The Fund seeks an attractive total return as a secondary objective. The Fund will seek to achieve its investment objectives by investing at least 80% of its Managed Assets in a portfolio of securities of specialty finance and other financial companies that the Fund's sub-advisor believes offer attractive opportunities for income and capital appreciation.

 

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