Dividend Dispatch — Header
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| Dividend Dispatch |
| Income is everywhere. I find it. |
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| Monday, October 12, 2026·6 min read |
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Dividend Dispatch — Today's Theme
| Today's Theme |
| I Spent Saturday With the Ex-Dividend Calendar. Here's What Survived. |
| I spent most of Saturday morning going through next week's ex-dividend dates. That's my idea of a good weekend — coffee, a spreadsheet, and a stack of deadlines. Friday was calm. The S&P 500 finished at 7,812, within reach of its all-time high. The VIX dropped to 14.84 — a two-week low. When the market is this quiet, nobody's watching closed-end funds. That's exactly when I find the best stuff. Today I've got a PIMCO fund that goes ex-dividend tomorrow at 13% — if you want that monthly payment, you need to own shares by end of day today. Plus a 28% CLO fund, a 54-year dividend raiser, and one red flag I need you to see. |
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Trump Clears Way for New ‘Bank of Musk’ |
Something strange is happening. A few of the most powerful people in Congress are scrambling to stop Elon Musk’s latest innovation. Led by Senator Elizabeth Warren, who is fighting it tooth and nail. Meanwhile, Musk is rolling it out to millions of Americans… with the full blessing of President Trump and the U.S. Treasury. And starting January 18, he could take it one step further... issuing his own digital dollars. When that happens, his backers could make a fortune. |
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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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| PTYThis PIMCO Fund Pays Monthly at 13% — And Goes Ex-Dividend Tomorrow |
PTY — PIMCO Corporate & Income Opportunity Fund — is a closed-end fund. Unlike a regular ETF, a closed-end fund has a fixed number of shares. It doesn't create new ones when people buy in. So the market price can drift above or below the actual value of the bonds inside. That gap creates opportunity.
PIMCO manages over $2 trillion in assets — the biggest bond investors on the planet. PTY's portfolio holds corporate bonds, high-yield debt, and mortgage securities. And it pays out income every single month: $0.1188 per share. That's $1.43 a year. At $10.97, your $10,000 turns into $1,300 a year — about $108 landing in your account every month.
The deadline matters. PTY goes ex-dividend tomorrow, October 13. You need to own shares by end of day today to get that next payment on November 2.
Now the risk. Closed-end funds use leverage — they borrow money to buy more bonds. That amplifies returns in calm markets and amplifies losses when rates spike or credit markets tighten. Both the bonds inside and the borrowing costs work against you in a downturn. This is not set-and-forget. But for managed monthly income at 13%, it earned a spot on my Saturday screen. |
| Yield: 13.0% |
$10K invested = $1,300/yr |
Paid: Monthly |
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Dividend Dispatch — Section 1b
| OXLC28% Yield From CLO Equity — Here's What That Actually Means |
I found myself going through CLO fund data on Sunday morning — yes, I know — and Oxford Lane Capital stopped me cold. OXLC invests in CLO equity. A CLO — collateralized loan obligation — is a bundle of corporate loans sliced into layers. The top layers are safest and get paid first. The bottom layer, the equity tranche, gets whatever's left. That's where OXLC lives.
Think of it like being last in line at a buffet. If there's plenty of food, you eat well. If there's not enough, you go hungry. Right now, the buffet is full. OXLC pays $0.20 per share every month — that's $2.40 a year. At $8.56, your $10,000 becomes $2,800 a year. That's $233 every month. OXLC also goes ex-dividend this Friday, October 16.
I have to be straight with you — this is not a buy-and-hold-forever name. OXLC's latest estimated net asset value was around $10.49, and the stock trades at $8.56 — roughly an 18% discount. That discount exists because CLO equity can lose value fast in a credit downturn. The dividend has been adjusted before and will be again if loan defaults spike. I keep this kind of position small — under 3% of my portfolio. But if you understand the risk, this is what 28% monthly income looks like. |
| Yield: 28.0% |
$10K invested = $2,800/yr |
Paid: Monthly |
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Wall Street insider who called the rise of AI three years in advance reveals the next BIG breakthrough: |
"Accelerated AI" |
A radical "light-speed" device is set to make AI 100x faster… launch a new wave of AI winners… and leave the Magnificent Seven in the dust. |
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Dividend Dispatch — Main Rest
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Safety & Watchlist
Reliable picks + red flags
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| Safe Pick |
| BDX54 Straight Years of Raises — And Most People Can't Name the Company |
Becton Dickinson makes the boring stuff hospitals can't function without — needles, syringes, blood collection tubes, IV sets, diagnostic systems. If you've ever had blood drawn, the tube probably had "BD" stamped on it. They've raised their dividend every single year for 54 consecutive years. That makes BDX a Dividend King — a company with 50+ straight years of increases. Through every recession, pandemic, and supply chain crisis of the last half century, BDX raised.
The yield is only 2.36% — $236 a year on $10K. That won't grab headlines. But the payout ratio is conservative, earnings guidance just got raised, and the dividend has compounded at roughly 4.9% annually over the past three years. At that growth rate, your $236 becomes about $300 in five years without adding a dime. This is the kind of name that anchors a portfolio while PTY and OXLC do the heavy lifting. |
| Yield: 2.36% |
$10K invested = $236/yr |
Paid: Quarterly |
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| Red Flag |
| PSEC24% Yield — Two Dividend Cuts in Three Years. Classic Trap. |
I know someone is going to email me about Prospect Capital. "Charlie, it yields 24%!" Yes it does. Let me show you why that's a problem.
PSEC is a BDC — a business development company, which means it lends money to mid-size businesses and passes the interest income to shareholders. The stock sits at $1.72. It currently pays $0.035 per share per month — that's $0.42 a year, which works out to about a 24% yield. Some screens show it higher depending on the calculation period.
Here's the problem. PSEC has cut its dividend twice in the last three years. The average annual dividend growth rate over that period is negative 8.3%. The payout isn't growing — it's shrinking. The stock has fallen from over $5 to $1.72 while the dividend was being cut. GuruFocus flags 6 warning signs on this name.
When you see a yield above 20%, your first question should never be "how do I buy this?" It should be "why is the market pricing in this much risk?" With PSEC, the answer is clear: the dividend keeps getting smaller, and the stock follows it down. That's a yield trap. The 24% isn't a reward — it's a warning sign the market is screaming at you. |
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The Extra Yield
This week's calendars, screens & answers
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| Weekend headline I loved: FS KKR Capital (FSK) declared a $0.20 per share special dividend last Thursday, on top of its regular $0.44 quarterly payout. That's $0.64 total for Q4. If you already own FSK, that's a nice surprise hitting your December statement. |
| Saturday screen results: I screened for monthly-paying closed-end funds yielding 10%+ with consistent distribution histories. Found 11 names. PTY had the tightest deadline — ex-dividend tomorrow. OXLC goes ex-dividend Friday, October 16. And AbbVie (ABBV) goes ex-dividend Thursday, October 15, at $1.73 per share — not a CEF, but worth noting if you've been watching it. |
| Someone asked me over the weekend: "What's the difference between a closed-end fund and an ETF?" Simple — an ETF creates and destroys shares to match demand, so its price stays close to the value of its holdings. A closed-end fund has a fixed share count. The price floats on supply and demand. That gap is why you can buy PTY's bond portfolio for a 13% yield when the underlying bonds might only yield 8%. The discount — or premium — does part of the work. |
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| The Dispatch |
| I spent the weekend elbow-deep in ex-dividend calendars and closed-end fund filings so you don't have to. Today: PTY at 13% with a deadline tomorrow. OXLC at 28% for the risk-aware. BDX with 54 years of quiet, boring raises. And PSEC as a reminder that a 24% yield can be a warning sign, not a gift. Tomorrow is Dividend Aristocrats and Dividend Growth Stars — two blue-chip raisers and two fast growers coming your way. See you then. |
| — Charlie |
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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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