Dividend Dispatch — Header
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| Dividend Dispatch |
| Income is everywhere. I find it. |
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| Monday, June 29, 2026·6 min read |
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Dividend Dispatch — Today's Theme
| Today's Theme |
| I Screened BDC Filings on Saturday — Two Passed, One Failed Badly |
| Friday was quiet for most people. Markets drifted — the S&P 500 settled at 7,354, the Nasdaq posted its fifth straight down day, and the VIX sat at 18.41. Nothing dramatic. But while the tape went nowhere, I was pulling up Q1 filings for BDCs and closed-end funds, looking for one thing: monthly payers where the income is growing, not shrinking. I found two — Main Street Capital at 8.5% and an Eaton Vance covered call fund at 8.2%, both paying monthly. I also found a 13.5% yield that just slashed its payout 18.7%. Today: two ideas I'd put money into and one I'd avoid. |
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“Cobots” Are Transforming This $1T Market |
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They’re not replacing humans; they’re working with them. That’s the promise of “cobots,” or collaborative robots. |
In a robotics market NVIDIA CEO Jensen Huang called “one of the largest industries ever,” the cobot segment is projected to grow 15X by 2035. |
And NVIDIA collaborator Miso Robotics is already proving its value in the $1T fast-food industry. |
Miso’s Flippy fry station AI robot can boost restaurant profits up to 3X, logging 200k hours in live kitchens to-date alongside human employees for brands like White Castle. |
Flippy has a $4B/year revenue potential on its own. And that's just one piece of Miso’s restaurant AI platform. |
Big-name brands like Jersey Mike’s and Cinnabon just became customers. Industry powerhouse Ecolab already invested. Join them as an early-stage shareholder before Miso hits their $2.5M raise goal for June. Hurry for bonus shares. |
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Dividend Dispatch — Section 1a
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The High Yield
Today's best dividend income ideas — 8%+ yields only
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| MAINThis Monthly Payer Just Raised — for the Fifth Straight Year |
I spent Saturday morning going through BDC filings — yes, I know — and Main Street Capital jumped right off the screen. A BDC is a business development company. Think of it as a private bank for small businesses that are too small for Wall Street. MAIN lends money (and sometimes takes ownership stakes) in these lower middle market companies, earns interest and dividends, and — here's the key part — is legally required to distribute at least 90% of its taxable income to shareholders. That's why the yields are so high.
MAIN just announced its Q3 2026 monthly dividend at $0.265 per share — a 1.9% raise over last quarter's $0.26. That's the fifth consecutive annual increase since 2021. But the regular monthly checks are only part of the story. MAIN also pays supplemental dividends on top — $0.30 per share last quarter alone. Q1 distributable net investment income was $1.00 per share, which comfortably covered the $0.78 in regular quarterly payouts. Total yield including supplementals: about 8.5%.
Now I have to be straight with you — MAIN trades at $51.01, but the net asset value (the actual value of its loan book) is about $33.45. That's a 52% premium to NAV. If sentiment turns on BDCs, this stock could drop hard toward that book value. I own shares, but I'm not adding at this premium. |
| Yield: 8.5% |
$10K invested = $850/yr |
Paid: Monthly |
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Dividend Dispatch — Section 1b
| EXG8.2% From a Covered Call Fund — at an 8.4% Discount |
OK so this one I found Sunday afternoon while screening closed-end funds for discounts to NAV. EXG — the Eaton Vance Tax-Managed Global Diversified Equity Income Fund (yes, that's the full name) — is a closed-end fund. That means it has a fixed number of shares trading on the NYSE like a regular stock. It doesn't create new shares when people buy, which is why it can trade at a premium or a discount to what the underlying portfolio is actually worth.
Here's where it gets interesting. EXG owns a basket of global blue chips — big dividend payers you'd recognize — and then does something clever: it sells covered call options against those holdings. A covered call is like renting out a room in a house you already own. You give up some potential upside on the stock, but you collect a premium — cash, up front — every time you sell the option. That premium gets distributed to you as monthly income.
The result: an 8.2% yield, paid monthly. That's $820 a year on $10,000 — about $68 dropping into your account every single month. And right now, EXG trades at roughly an 8.4% discount to NAV. You're buying a dollar of stocks for about 91.6 cents. The "tax-managed" part means some of the distribution is classified as return of capital — not taxed until you sell.
The trade-off is real, though: covered calls cap your upside. If stocks surge, EXG won't capture all of that gain. In a strong bull run, this fund will lag a plain index fund. But for monthly income at a discount? I like this one. |
| Yield: 8.2% |
$10K invested = $820/yr |
Paid: Monthly |
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Dividend Dispatch — Main Rest
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Safety & Watchlist
Reliable picks + red flags
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| Safe Pick |
| PEP54 Years of Raises and Counting |
After a weekend buried in high-yield BDC filings, I always like to come back to something safe. PepsiCo is as safe as it gets. You know the products — Lay's, Doritos, Cheetos, Gatorade, Pepsi, Mountain Dew. You've probably bought three of those in the last month.
PEP raised its quarterly dividend to $1.48 per share in February 2026 — its 54th consecutive annual increase. That earns it the title of Dividend King, which is any company that has raised its dividend for 50 or more years in a row. Only about 50 companies in America qualify. The current yield sits at roughly 4.2%. That's $420 a year on $10,000 — or about $105 landing in your account every quarter like clockwork.
One thing I'm watching: PEP's payout ratio has climbed to about 90%. That means it's paying out 90 cents of every dollar it earns as dividends. Historically, PEP has run closer to 65–70%. It's not a red flag — they generate enormous free cash flow and the snack portfolio prints money in any economy — but it does mean dividend growth could slow from here if earnings don't reaccelerate. I still own PEP. I'm just watching that ratio. |
| Yield: 4.2% |
$10K invested = $420/yr |
Paid: Quarterly |
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| Red Flag |
| PFLT13.5% Yield — and an 18.7% Cut Hiding Behind It |
This one came up on my Saturday screen, and I want to flag it because it's the kind of number that grabs income investors by the collar. PennantPark Floating Rate Capital is a BDC — like Main Street Capital above — that lends to private companies. It specializes in floating-rate loans, meaning the interest it earns goes up and down with short-term rates.
Here's the problem: PFLT just cut its monthly distribution from $0.1025 to $0.0833 per share — an 18.7% reduction. The stock has dropped hard in response, which is why the yield still looks like 13.5%. But that's a trap. A sky-high yield after a dividend cut is like a "50% off" sign on a product whose price was just doubled. The number looks generous; the direction is ugly.
When a BDC cuts its payout, it usually means the loans on its books aren't performing well, or falling interest rates are squeezing income on those floating-rate loans. Either way, an 18.7% cut is a signal — not an invitation. I'd want to see at least two clean quarters where net investment income comfortably covers the new $0.0833 rate before I'd consider touching this. Right now, I'm staying away. |
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The Extra Yield
This week's calendars, screens & answers
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| Weekend headline I loved: MAIN announced Q3 monthly dividends at $0.265/share — the fifth consecutive annual raise. From $0.21 in 2021 to $0.265 today. If you own 1,000 shares, that increase alone is an extra $660 per year compared to 2021. |
| Saturday screen results — ex-dates tomorrow: Three names go ex-dividend June 30: Annaly Capital (NLY, $0.75/share), Illinois Tool Works (ITW, $1.61/share), and EPR Properties (EPR, $0.31/share). Today is your last day to buy and still get those payouts. |
| Someone asked me over the weekend: "What's a supplemental dividend?" It's a bonus payout on top of the regular dividend — many BDCs pay them when net investment income exceeds what the regular distribution requires. MAIN paid $0.30/share as a supplemental last quarter. Think of it as a surprise check in the mail. |
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| The Dispatch |
| I spent the weekend in SEC filings and closed-end fund data so you didn't have to. Today: Main Street Capital (MAIN) — a monthly BDC payer that just raised again — plus EXG, a covered call fund paying 8.2% at an 8.4% discount to its portfolio value. PepsiCo (PEP) and its 54-year streak earned the safety spot. And I flagged PennantPark's 18.7% cut as a yield trap worth avoiding. Tomorrow we switch gears — Dividend Aristocrats and Growth Stars, two sections where the yields are smaller but the compounding is real. See you then. |
| — Charlie |
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*Disclaimer: This is a paid advertisement for Miso Robotics’ Regulation A offering. Please read the offering circular at invest.misorobotics.com. |
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Dividend Dispatch — Footer
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| The High Yield · Aristocrats · Growth Stars · The Weird Yield · Safety |
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