This just might be the most interesting high-yield stock I’ve seen so far this year. The company comes from a traditionally high-yield industry, but its business differs quite a bit from its peers. And the best part is, this high-dividend stock just raised its already impressive payout.
The stock in question is Newtek Business Services Corp (NASDAQ:NEWT), a business development company (BDC) that has been around since 1998. If you’ve been following this column, you’d know that BDCs can be great for yield-seeking investors. Many of them are lenders to middle-market businesses in the United States. By providing financing solutions to these businesses—who can’t always get loans from banks, BDCs can earn outsized interest income.
Source: Income Investors
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- Are Defense Stocks Good Defensive Stocks?
- Building Yield: 6 Consumer Goods Dividend Stocks
- Why Dividend Growth Stocks Are Evil
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