On April 15th, 2019 I bought an additional 500 shares of Blackstone/GSO Loan Financing Ltd (LON: BGLF) at EUR 0.85 per share.
With its quarterly dividend of 0.025 euro cents per share, this latest buy has a dividend yield of 11.37% and will pay us an additional EUR 12.5 every quarter. Awesome!
This already is the second time in 2019, and the fourth time since 2018, I'm buying this stock,
- Latest Stock Buy: LON:BGLF (Blackstone / Gso Loan Financing Ltd)
- Latest European Stock Buy: LON:BGLF
- Latest Stock Buy: LON:BGLF
I bought this stock to compensate dividend cuts from the Baltics this year. To finance this buy I sold Linas Agro Group stocks, see: Latest Stock Sale - Linas Agro Group (LNA1L)
For the rest of the year, I'm looking to get a EUR 37.5 (USD 42.39 ) from this buy, which is about 2.07% from my $2.045 goal 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.