On July 17, 2019, I bought an additional 118 shares of First Trust Specialty Finance and Financial Opportunities Fund (FGB) at $6.39 per share.
With its quarterly dividend payout of 0.175 dollars per share, this latest buy has a dividend yield of 10.95% and will pay us an additional $20.65 (before tax) every quarter. Awesome!
FGB is paying in the following months: February, May, August and December
This is already the third time I'm buying FGB
By now FGB takes 13.82% 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 $35.09 (after tax) from this buy, which is about 1.7% from my $2,045 goal for 2019.
In total FGB now contributes about $178.5 yearly to the dividend income portfolio.
About First Trust Specialty Finance and Financial Opportunities Fund (FGB)
The First Trust Specialty Finance and Financial Opportunities Fund is a non-diversified, closed-end management investment company. The Fund's primary investment objective is to seek a high level of current income. The Fund seeks an attractive total return as a secondary objective. The Fund will seek to achieve its investment objectives by investing at least 80% of its Managed Assets in a portfolio of securities of specialty finance and other financial companies that the Fund's sub-advisor believes offer attractive opportunities for income and capital appreciation.