The Surging 8.8% Dividend Wall Street Can't Touch [Forbes]
PGIM High Yield Bond Fund, Inc. (ISD)
US:NYSE Investor Relations:
news.prudential.com/prudential/news/corporate-financial-results
Company Research
Source: Forbes
The Surging 8.8% Dividend Wall Street Can't Touch Getty Today I’m going to show you nothing less than a “dividend unicorn”: a closed-end fund (CEF) many Get this: because of the weirdness of the CEF market, this cash machine is still cheap today— Let’s dive in. I’m talking about the PGIM High Yield Bond Fund (ISD). First, though, if you’ve been reading my columns on Contrarian Outlook two weeks ago As if on cue, Prudential, the fund’s managers, announced less than a week later that ISD would hike its dividend—part of a recent trend that’s seen the fund raise its payout 24% this year alone! Heck, we’d be happy if ISD kept its 8.8% dividend where it is. But an 8.8% yielder with a payout growing this fast is unheard of. And those hikes will likely keep on coming, for one reason: the Federal Reserve. Management Reads the Fed Like a Book Let’s quickly go back a few years. In 2015, when the Federal Reserve started raising interest rates, ISD had a strategy specifically designed to profit fr
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Sec Filings
- 4/2/24 - Form 5
- 3/26/24 - Form N-CSRS
- 3/21/24 - Form NPORT-P
- ISD's page on the SEC website