Share to Twitter Share to Linkedin A few weeks back, bond giant PIMCO trimmed a bunch of payouts from its closed-end funds (CEFs). Which was no bueno for income investors, who buy CEFs solely for their dividends. We don’t own any PIMCO funds in our premium portfolios currently. But readers, who rightfully recognize me as a PIMCO fanboy, have written in to ask what’s up. “Any thoughts on PIMCO recent slashing of dividends? Do you think they will also cut PDI’s dividend?” — John S John, you know me well. Maybe too well! My nightstand currently boasts a copy of The Bond King: How One Man Made a Market, Built an Empire, and Lost It All . (I’m 128 pages in… and would enthusiastically recommend it to fellow fixed-income geeks.) Bond nerd or not, most of us dividend investors do know the “Bond King” Bill Gross. He was Morningstar’s Fixed Income Manager of the Decade from 2000 to 2009. Gross netted 7.7% yearly returns for his investors—a big … [Read more...] about We Dumped This 13% Dividend—Time To Reconsider?
Wealthy retirement dividend stocks
If Chevron Can Sell Shares, Why Can’t They Buy Them Back?
Share to Twitter Share to Linkedin In late January Chevron CVX announced fourth quarter and full year 2022 results. Chevron earned a record $36.5 billion profit in 2022, more than doubling 2021 earnings. In addition, Chevron increased its quarterly dividend by 6%, and announced a $75 billion stock buyback : “The Board also authorized the repurchase of the company’s shares of common stock in an aggregate amount of $75 billion. The $75 billion authorization takes effect on April 1, 2023, and does not have a fixed expiration date. It replaces the Board’s previous repurchase authorization of $25 billion from January 2019, which will terminate on March 31, 2023, after the completion of the company’s repurchases in the first quarter 2023.” The Biden Administration Responds This stock buyback announcement got immediate attention from the Biden Administration. In a series of tweets, White House spokesperson Abdullah Hasan wrote: and … [Read more...] about If Chevron Can Sell Shares, Why Can’t They Buy Them Back?
George Santos Reportedly Claimed To Be A Broadway Musical Producer: Here’s Everything The Embattled Congressman Has Lied About
Share to Twitter Share to Linkedin Topline Rep. George Santos (R-N.Y.) told potential donors he was a producer on the musical Spider-Man: Turn Off The Dark , which ran on broadway from 2011-2014, Bloomberg reported Friday—the latest apparent lie from the freshman congressman, who is facing calls to resign over his fabricated resume and questionable financial statements. Key Facts Broadway producer: Santos allegedly told potential donors during the 2021 campaign that he was a producer on the Broadway musical Spider-Man: Turn Off The Dark , Bloomberg reported Friday, but his name never appeared in the show’s playbill and lead producer, Michael Cohl told Bloomberg the congressman wasn’t involved. An illustrious modeling stint: Santos told his former roommate in 2013 that he was a model who would soon appear in Vogue and had worked at New York Fashion Week, New York Magazine reported Wednesday, citing an interview with Santos’ … [Read more...] about George Santos Reportedly Claimed To Be A Broadway Musical Producer: Here’s Everything The Embattled Congressman Has Lied About
Why is Gautam Adani’s Indian empire in turmoil?
Gautam Adani. The business empire of Gautam Adani is in mayhem, losing more than $100 billion in value and sending the Indian tycoon tumbling down the global rich list after allegations of major accounting fraud. - Who is Gautam Adani? - Adani, 60, is a publicity-shy school dropout of humble origins who rose to become fabulously rich. Moving to Mumbai in his teens to work sorting diamonds, he formed his own import-export business. His big break came in 1995 when he acquired a shipping port just as India's economy was opening up. Today, Adani Group has interests in everything from power generation and Australian coal mines to cement, media, food and Israeli ports. Its seven main listed units had a combined market value in January of around $220 billion. Read More The meteoric rise in the share prices of Adani's units -- the flagship Adani Enterprises rose more than 1,000 percent in five years -- has helped make Adani fabulously wealthy and fund further … [Read more...] about Why is Gautam Adani’s Indian empire in turmoil?