Latest Stock Buy: LON:BGLF

Updated: 1 November, 2018 seen 93

On October 1st, 2018 I bought an additional 460 shares of Blackstone/GSO Loan Financing Ltd (LON:BGLF ) at EUR 0.86 per share. With its quarterly dividend of 0.025 euro cents per share, this latest buy has a dividend yield of 11.62% and will pay additional EUR 11.5 every quarter. Awesome!

I first discovered and bought  BGLF back in June 2018. Right now this buy has the highest yield in my European stock portfolio.

BGLF stock has dividend payments in February, May, August, and November. Which is cool, as most of these months (except May) are among the lowest for my dividend income. This February was among the lowest dividend income month's this year, barely reaching $60. Now with adding BGLF stock, I'm looking on much better February 2019. 

For the rest of the year, I'm looking to get an EUR 11.5 (USD 13.33 ) from this buy, which is about 1.1% from my $1,200 goal for 2018. 

2017 in Review and Financial Goals for 2018

About BGLF /  Blackstone/GSO Loan Financing

BGLF’s (the “Company”) 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.

The Bottom Line

BGLF:LON is not only with the highest yield from the European portfolio, but also know is the largest holding in it, with weight at 49%. I might buy more this stock in the future.