Nicholas Marshi's  Instablog

Nicholas Marshi
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Nicholas Marshi is the Chief Investment Officer of Southland Capital Management (SCM). The Company is a Registered Investment Adviser ("RIA") in Santa Monica, California. SCM's principal expertise is in the area of leveraged finance to U.S. private companies, with a focus on the... More
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BDC Reporter
  • Kayne Anderson Energy (KED): Unchanged Distribution For IVQ 2009 At $0.30 0 comments
    Jan 7, 2010 10:08 PM | about stocks: KED

    Kayne Anderson Energy Development Company Announces Distribution of $0.30 per Share for Q4 2009 – Yahoo! Finance.

    We had expected an unchanged dividend from Kayne Anderson Energy (the third in a row at $0.30), and we were not disappointed. The Company’s portfolio of energy MLPs (both public and private) have stabilized or increased their own pay-outs, so the Company has no reason to drop its payment.

    Note that the distribution is treated-for tax purposes-as return of capital. So the nominal 8.8% yield is on an equivalent tax basis in the low teens. That’s in line with the bulk of the taxable BDCs.

    Disclosure: LONG KED
    Stocks: KED
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