On January 6th, 2020 I bought an additional 500 shares of Blackstone/GSO Loan Financing Ltd (LON: BGLF) at EUR 0.84 per share.
With its quarterly dividend of 0.025 euro cents per share, this latest buy has a dividend yield of 11.90% and will pay us an additional EUR 12.5 every quarter. Awesome!
I have been buying BGLF stock since 2018, in total, this is already the fifth time I'm buying this great dividend payer. To finance this purchase I sold some of my Nasdaq Baltic holdings (SAF Tehnika)
Using dollar-cost averaging my cost per share is EUR 0.84
For the rest of the year, I'm looking to get a EUR 50 (USD 55.58 ) from this buy, which is about 1.54% from my $3,600 goal for 2020
By now BGLF takes 82.61% from our European stock portfolio and is the single biggest dividend payer in it
In total BGLF now contributes about EUR 242 / USD 269.03 yearly to the dividend income portfolio.
Currently, there are no additional plans to increase stake with BGLF in 2020, but anything can happen
About BGLF / Blackstone/GSO Loan Financing
BGLF’s investment objective is to provide shareholders with stable and growing income returns and to grow the capital value of its investment portfolio by exposure predominantly to European and US floating rate senior secured loans, both directly and indirectly.
The Company achieves its investment objective solely through its investment in Blackstone / GSO Corporate Funding (“BGCF”)1, which is an investor in global floating rate senior secured loans. BGCF funds its investment in European and US loans using a variety of funding sources, including equity capital, its 3-year syndicated financing facility, notes issued to the Company, and non-recourse leverage obtained from retaining Income Notes in collateralized loan obligations(“CLOs”) that BGCF has established.