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Income Lab Ideas: Dividend Changes For 2020

Published Mon, 07 Dec 2020 12:49:05 -0500 on Seeking Alpha

Seeking AlphaClosed End FundsIncome Lab Ideas: Dividend Changes For 2020Dec. 7, 2020 12:49 PM ET|| Includes: ADX, AIO, ASGI, BANX, BMEZ, BST, CEF, CEM, CEN, CET, CHN, CPZ, CTR, DLY, DSE, DYFN, ECF, ECF.PA, EGIF, EMO, FSLF, FTHY, FXBY, GER, GF, GGO, GGO.PA, GMZ, INF, IRL, JMF, JMLP, KF, KMF, KYN, MAV, MGU, MNE, NDMO, NDP, NHF, NTG, NTX, OCCI, OCCIP, PHYS, PSLV, PTA, RCG, RFM, RMRM, SPE, SPE.PB, SPPP, SRF, SRV, SZC, TDF, TTP, TWN, TYG, VAMby: Nick AckermanNick Ackerman CEF/ETF Income LaboratoryCEF/ETF income and arbitrage strategies, 8%+ portfolio yieldsSummaryAs the year is starting to wind down, I wanted to take an updated look at what distribution changes happened throughout the year.
We had previously done this for a more specific time frame; the time frame of the pandemic to shortly after in June.
Again, I'm surprised at how resilient the income was from CEFs - helping negate the negative impact of the pandemic was the decrease in interest for leverage.
Written by Nick Ackerman, co-produced by Stanford Chemist
Previously, we looked at a list similar to this when pulling data for distribution cuts through the pandemic. Now, I wanted to take a wider look at distribution changes over 2020 in total.
Dividend cuts for closed-end funds were something that we certainly anticipated throughout this latest sell-off. Not only is that playing a role in CEFs, but will in ETFs and individual stocks just the same. This might be more prevalent for CEFs though, as they are unable to retain earnings as a corporation can. ETFs only pass-through income, so those are generally all over the board anyway.
The CEFs larger than usual payouts are thanks to them paying out almost all of the earnings that they can pull in. This is by design though, as laws require those structured as a regulated investment company to payout such a large portion to maintain compliance. The penalty for not meeting the required payouts is an excise tax on the fund. So, that means when the fund... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
TORTOISE MLP FUND 12.38   0.0 0.00 0.00 13.55
TORTOISE ENERGY INFRASTRUCTURE 20.77   0.0 0.00 2.62 12.48
NUVEEN ENERGY MLP TOTAL RETURN FUND 8.59   0.0 0.00 0.00 11.52
CUSHING MLP TOTAL RETURN FUND 10.20   18.6 0.55 0.00 10.84
CLEARBRIDGE ENERGY MLP OPPORTUNITY FUND 8.71   0.0 0.00 0.00 10.49
KAYNE ANDERSON MLP INVESTMENT 14.71   0.0 0.00 0.00 9.76
KAYNE ANDERSON MIDSTREAM/ENERGY FUND 10.86   0.0 0.00 0.00 8.23
MACQUARIE GLOBAL INFRA TOTAL RETURN FUND 23.88   0.0 0.00 0.00 7.07
STONECASTLE FINANCIAL 21.63   14.9 1.45 1.52 7.02
SPECIAL OPPORTUNITIES FUND 14.12   0.0 0.00 0.00 6.50
NEW IRELAND FUND 8.55   0.0 0.00 0.00 5.19
ELLSWORTH FUND 10.85   0.0 0.00 0.49 3.44
BLACKROCK MUNI NY INTERMEDIATE DURATION FUND 14.65   0.0 0.00 0.00 3.29
CENTRAL SECURITIES 31.72   0.0 0.00 0.61 1.95
ADAMS EXPRESS 15.95   0.0 0.00 0.20 1.27

TORTOISE MLP FUND - NTG
TORTOISE MLP FUND - NTG  


Older articles featuring Tortoise Mlp Fund (NTG):
Midstream/MLP Earnings So Far: M&A, Dividends, Buyback And ESG
High MLP/Midstream Yields But Ample Coverage, Payout Ratios
Framing Current Midstream/MLP Yields With Stress Tests
Income Lab Ideas: Dividend Changes Review And Discussion Through The Pandemic
Examining Midstream C-Corp Dividends As Yields Rival Historical MLP Yields
2020 Vision: What's The Outlook For Midstream/MLP Dividends This Year?
15%+ Yielding 2X Leveraged ETNs In Carry Trade Strategies
Income Investing And The Changing Yield Curve
YieldShares High Income ETF: 8.7% Yield, Passive Exposure To CEFs
CEFL And Other Diversifiers For A 15%+ Current Yield Portfolio

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