On January 3, 2020, I bought an additional 60 shares of Stone Harbor Emerging Markets Income Fund (EDF ) at $13.73 per share. With its monthly dividend of 0.18 cents per share, this latest buy has a dividend yield of 15.73% and will pay us $10.8 every month (before tax). Awesome!
This buy marks the first stock buy for 2020 while in total this was already third time buying EDF. It's interesting to note that first I bought in back in July 2018, paying $13.17 per share, then in August 2019 paying $13,90 per share and now $13.73 per share.
Using dollar-cost averaging my average cost per one EDF share is $13.50
Also, it should be noted that EDF is a very special stock to me, as it is the very first stock I added to my portfolio back in July 2018
By now EDF takes 11.10% from our US stock portfolio, and also is one of the biggest dividend payers in the portfolio by now.
For the rest of the year, I'm looking to take $110.16 (after tax) from this buy, which is about 3% from my $3,600 goal for 2020.
In total EDF now contributes about $345.6 yearly to the dividend income portfolio. I might buy some more EDF share in 2020 just to increase the total yearly dividend payment more than $365/yearly or a dollar per day.
About Stone Harbor Emerging Markets Income Fund
The Fund's primary investment objective is to maximize total return, which consists of income on its investments and capital appreciation. The Fund will normally invest at least 80% of its net assets (plus any borrowings made for investment purposes) in Emerging Markets Securities. "Emerging Markets Securities" include fixed income securities and other instruments (including derivatives) that are economically tied to emerging market countries, that are denominated in the predominant currency of the local market of an emerging market country or whose performance is linked to those countries' markets, currencies, economies or ability to repay loans. A security or instrument is economically tied to an emerging market country if it is principally traded on the country's securities markets or if the issuer is organized or principally operates in the country, derives a majority of its income from its operations within the country or has a majority of its assets within the country. There is no assurance that the Fund will achieve its investment objective.