Mid-April and May have traditionally been the months when we see Q1 earnings and dividend announcements from our favorite dividend stocks. Well here we are again, and that information has never been so eagerly anticipated by income investors, as we find out who's cutting their dividend and who's maintaining it in the current shutdown economy.
One ray of sunshine has been Gladstone Investment Corp. (GAIN), whose management announced just last week that it's not only maintaining its $.07 monthly distribution, but that it's also going to pay a $.09 supplemental distribution in June. Based on just its regular $.07 monthly payouts, GAIN yields 8.70%, at a price of $9.65. Adding in the $.09 payout bumps up the yield to 9.6%. It has a history of paying supplemental distributions in the past three years: $.21 in 2019, $.12 in 2018, and $.12 in 2017.
Source: Seeking Alpha
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