On January 2nd, 2019 I bought an additional 520 shares of Blackstone/GSO Loan Financing Ltd (LON: BGLF) at EUR 0.75 per share. With its quarterly dividend of 0.025 euro cents per share, this latest buy has a dividend yield of 13.33% and will pay additional EUR 13 every quarter. Awesome!
This buy is the first stock by in 2019, and in fact, was created on the late January 1st night by auto orders on IB platform.
BGLF by now is my largest European (non-Baltic stock) holding, I have bought twice BGLF in the past, see:
Despite it's high dividend yield, this stock actually has a problem with value growth or more precisely this stock is not for value growth. It's actually pretty risky high yield dividend stock, which I love because of it pays out quarterly in Feb, May, Aug and Nov (one of the lowest months in my portfolio)
BGLF Stock Price and Chart 5 years (Data source: BGLF Stock Chart)
I first bought BGLF at EUR 0.915 per share in June 2018, then at EUR 0.86 in October and now the price is at a record low at EUR 0.75 per share. Let's say I see this as a great buying opportunity.
For the rest of the year, I'm looking to get a EUR 52 (USD 58.98 ) from this buy, which is about 2.92% from my $2.045 goal for 2019
2018 in Review and Financial Goals for 2019
Currently I don't have plans to buy more BGLF stock in 2019, but as usual, it might change (if, then I could buy more BGLF prior to November 2019 dividend payout)
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.
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 60%.
