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  • walsingmalinda walsingmalinda Sep 25, 2009 10:20 PM Flag

    Is the dividend safe ???????

    Hello Gates Am interested in BGY, have been reading all comments posted here. Thru 30 Jun the fund was doing 83% ROC. Have not been able to find out what the fund is doing after 30 Jun. Am not fond of owning CEF that are doing this. Bad enough that we own CII. It was doing 82% ROC thru 30 Jun. Will be glad when divs are paid out and are just that. Good luck with BGY.

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    • If you want no ROC you may want to get out of the call-writing funds - I own several and they're all doing it. I know the tax preparation will be more complicated, but the distributions and income have been more stable than the plain equity dividend funds, which have had to cut their distributions.

      For simplicity, my favorites are the bond and convertible cef's - everything is taxed as earned income, though. No tax breaks there.

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