New purchase : First National Financial Corporation

Started a new position in portfolio by purchasing 50 shares of First National Financial Corporation (TSE:FN). 

First National Financial Corp is a Canadian originator, underwriter, and servicer of predominantly prime residential and commercial mortgages. The Company operates in two business segments, Residential and Commercial. These segments are organized by mortgage type and contain revenue and expenses related to origination, underwriting, securitization and servicing activities. It derives maximum revenue from Residential segment.

First National Financial Corp pays dividends monthly and my starting yield of cost is around 5.7%

Recent sale : Algonquin Power & Utils Corporation

Sold all my shares at Algonquin Power & Utils Corporation (TSE:AQN) at CAD 6.73 per share. Two dividend cuts and ticker price has been going downhill all year. Sold to gain some tax deductions.

Dividend cut #7 of 2024 : Prospect Capital

Prospect Capital is declaring distributions to common shareholders as follows:

• November 24, record date 11/26/2024, payment date 12/19/2024, amount $0.0450
• December 24, record date 12/27/2024, payment date 1/22/2025, amount $0.0450
• January 25, record date 1/29/2025, payment date 2/19/2025, amount $0.0450

Prospect expects to declare February 2025, March 2025, and April 2025 distributions to common shareholders in February 2025.

This is a first dividend cut since 2017 for Prospect, not good.

Gladstone Capital Corporation to pay supplemental dividend in December

Gladstone Capital Corporation (NASDAQ:GLAD) announced today that its board of directors declared the following additional supplemental cash distribution to common stockholders payable in December 2024.

Common Stock: A supplemental distribution of $0.40 per share of common stock in December 2024. Ex-dividend date 4th of December and dividend to be paid on 18th of December. 

"We are eager to reward our shareholders with this meaningful supplemental distribution from the realized capital gain generated on the equity portion of this successful exit," said Bob Marcotte, President of Gladstone Capital Corporation.

New purchase : Fortis Inc.

Added 15 shares of Fortis Inc. (TSE:FTS) at CAD 62.81 per share. I now hold 127 shares of Fortis Inc.

Saratoga Investment to pay special dividend in December

Saratoga Investment Corp. (NYSE:SAR), a business development company, today announced that its Board of Directors has declared a base quarterly dividend of $0.74 per share for the fiscal third quarter ending November 30, 2024, and an additional special dividend of $0.35 per share fulfilling our fiscal 2024 distribution requirements. Both dividends are payable on December 19, 2024, to all stockholders of record at the close of business on December 4, 2024. 

“As a result of the strong overall performance of our portfolio during the fiscal second and third quarters, the board of directors approved a dividend of $0.74 per share, equivalent to the highest in our history, while maintaining industry leading dividend coverage and yield. Annualizing this dividend rate implies a 12.7% dividend yield based on Saratoga’s recent stock price of $23.31 per share on November 5, 2024” said Christian L. Oberbeck, Chairman and Chief Executive Officer of Saratoga Investment. 

Mr. Oberbeck continued, “Additionally, we are pleased to declare an additional special distribution of $0.35 per share, which was driven by the substantial overearning of our dividend during the previous fiscal year. By distributing this dividend at this stage, we have fulfilled our fiscal 2024 spillover requirements, with new spillover starting to build commencing March 1, 2024, generated from our quarterly earnings. We believe the diligent execution of our strategy, and the highly diversified nature and solid performance of our portfolio has allowed us to continue delivering attractive returns to our shareholders via solid and consistent base dividends, further enhanced with this special distribution. This dividend strategy provides a cushion against potential adverse events, including the possible effects of further cuts in interest rates.”

Dividend increase #44 of 2024 : Telus Corporation

Telus Corporatoin (TSE:T, NYSE:TU) declares CAD 0.4023/share quarterly dividend, this is a 3.4% increase from prior dividend of CAD 0.3891. 

Forward yield 7.65%. Dividend in payable on January 2nd for shareholders of record December 11th. Ex-dividend date is December 11.

Dividend increase #43 of 2024 : Emerson Electric

Emerson Electric (NYSE:EMR) declared a quarterly cash dividend increase to $0.5275 per share of common stock payable December 10, 2024 to stockholders of record November 15, 2024. 

Dividend increase #42 of 2024: Main Street Capital Corporation

Main Street Capital Corporation (NYSE: MAIN) is pleased to announce that its Board of Directors declared regular monthly cash dividends of $0.25 per share for each of January, February and March 2025.  

These monthly dividends, which will be payable pursuant to the table below, total $0.75 per share for the first quarter of 2025 and represent a 2.0% increase from the regular monthly dividends declared for the fourth quarter of 2024 and a 4.2% increase from the regular monthly dividends paid in the first quarter of 2024. 

Summary of First Quarter 2025 Regular Monthly Dividends

Declared	Ex-Dividend Date	Record Date	Payment Date	Amount Per Share
11/4/2024	1/8/2025	1/8/2025	1/15/2025	$0.25
11/4/2024	2/7/2025	2/7/2025	2/14/2025	$0.25
11/4/2024	3/7/2025	3/7/2025	3/14/2025	$0.25
		Total for First Quarter 2025:		$0.75

In addition to the regular monthly dividends for the first quarter of 2025, the Board of Directors declared a supplemental cash dividend of $0.30 per share payable in December 2024. 

Supplemental Cash Dividend Payable in December 2024

Declared	Ex-Dividend Date	Record Date	Payment Date	Amount Per Share
11/4/2024	12/20/2024	12/20/2024	12/27/2024	$0.30

Status update : October 2024

Dividends received in October

- 52.43 from Telus Corporation
- 60.87 from Canadian Natural_Resources
- 63.95 from Iron Mountain
- 23.22 from Coca-Cola 
- 11.25 from Nokia 
- 28.60 from Huhtamaki Oyj
- 22.48 from AGNC Investment
- 84.93 from Fortum 
- 67.88 from Altria Group
- 66.27 from Trinity Capital
- 8.10 from Algonquin Power_and_Utils
- 46.44 from W.P. Carey
- 22.48 from Realty Income
- 13.04 from EPR Properties
- 10.96 from Whitecap Resources
- 26.05 from Main Street
- 5.20 from Vermilion Energy
- 14.97 from Prospect Capital
- 14.30 from Kesko Oyj
- 41.53 from Bank_of_Nova_Scotia 
- 13.10 from LTC Properties
- 44.15 from Annaly_Capital_Management 
- 35.01 from Rithm Capital
- 19.72 from Chimera Investment
- 256.33 from Gladstone Investment_Corp
- 11.65 from Gladstone Commercial_Corp
- 24.38 from Gladstone Capital_Corp

This makes a total of 1089.29 in dividends received from 27 companies. Previous year I received 760.25 in October. This is a 43.28% change in dividends. Huge change is due to extra dividend from GAIN.

Progress Update : October 2024

 

Progress log Oct-2024

Quote	2021	2022	2023	2024	1y chg	2y chg	3y chg
Telus Corporation	32.44	37.96	37.71	52.43	39.03%	38.12%	61.62%
Canadian Natural_Resources	8.98	29.40	40.96	60.87	48.61%	107.0%	577.8%
Iron Mountain	52.69	61.89	61.06	63.95	4.73%	3.33%	21.37%
Coca-Cola	19.19	23.59	23.28	23.22	-0.26%	-1.57%	21.00%
Nokia	-	-	-	11.25
Huhtamaki Oyj	18.40	25.85	27.50	28.60	4.00%	10.64%	55.43%
Nordea	264.96	-	-	-
AGNC Investment	18.42	25.34	23.24	22.48	-3.27%	-11.2%	22.04%
Fortum	-	-	58.70	84.93	44.68%
Altria Group	56.66	70.55	67.54	67.88	0.50%	-3.78%	19.80%
Trinity Capital	-	65.57	54.68	66.27	21.20%	1.07%
Algonquin Power_and_Utils	9.76	23.45	13.87	8.10	-41.6%	-65.4%	-17.0%
W.P. Carey	52.39	62.64	58.78	46.44	-20.9%	-25.8%	-11.3%
Realty Income	10.80	13.49	16.53	22.48	36.00%	66.64%	108.1%
Pembina Pipeline	9.77	14.48	-	-	%
EPR Properties	7.94	10.41	9.62	13.04	35.55%	25.26%	64.23%
Whitecap Resources	-	-	-	10.96
Main Street	15.59	19.42	21.43	26.05	21.56%	34.14%	67.09%
STORE Capital_Corp	18.51	-	-	-
Vermilion Energy	-	3.85	4.52	5.20	15.04%	35.06%
Prospect Capital	11.34	16.54	15.32	14.97	-2.28%	-9.49%	32.01%
Kesko Oyj	-	-	-	14.30
Bank_of_Nova_Scotia	18.12	30.34	28.02	41.53	48.22%	36.88%	129.1%
LTC Properties	12.32	14.34	13.50	13.10	-2.96%	-8.65%	6.33%
Orchid Island	23.45	13.32	12.67	-	-100.%	-100.%
Annaly_Capital_Management	25.95	65.47	45.20	44.15	-2.32%	-32.5%	70.13%
Rithm Capital	32.70	38.27	36.08	35.01	-2.97%	-8.52%	7.06%
Chimera Investment	34.77	34.72	29.83	19.72	-33.8%	-43.2%	-43.2%
Gladstone Investment_Corp	6.28	21.02	23.23	256.33	1003.%	1119.%	3981.%
Gladstone Commercial_Corp	-	7.67	11.93	11.65	-2.35%	51.89%
Gladstone Capital_Corp	-	-	25.04	24.38	-2.64%
Total	761.43	729.68	760.25	1089.29	43.28%	49.28%	43.06%