PACHOLDER HIGH YIELD FD, Inc. (AMEX:PHF)
Closed-end fund seeking a high level of total return through current income and capital appreciation by investing primarily in high yield high risk fixed-income securities of domestic companies.
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PHF has a tasty dividend of $.055 per share, somewhere around 12%.
Also, it is heavily diversified in everything from energy to manufacturing. As these sectors recover at different times across the next couple of years, Pacholder will continue to go up and pay its dividend.
Recs
Today the fund declared a distribution of $0.13 per common share. The distribution will be payable on December 23, 2008 to shareholders of record on December 22, 2008. The ex-date for the dividend is December 19, 2008. This announcement caused an 18% jump in the share price. The announcement continues:
On November 26, 2008, the Fund announced that it was not permitted to pay the November monthly dividend on December 9, 2008 because the Fund's asset coverage was less than 200% for its Auction Rate Preferred Shares ("ARPS").
My red thumb is due to my belief that the share price spike is temporary and they will continue to have trouble with asset coverage.
Recs
continues to pay the same decent dividend
Recs
Greater than11% yield for this slow and steady. If you like income, now is a good time
Recs
long term record of steady performance
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