The way That Prospect does their dividend speaks to me.
A strong dividend (11%) speaks of strength of the company.
The monthly increases show sustained growth
The fact that they are small shows they are determined to increase them forever
They have a dependable track record to have confidence in.
I would think we would see special dividends occassionally. The regular dividend is the base.
The financial crisis that started in 2007 was a catastrophic event. Go back and look at the stock prices of companies.
If you don't like the 11% yield, don't buy it. Get a CD at the bank. I am not telling anyone to buy this. I do own 6000 shares with my own money. You do what you like with yours. You are posting here for a reason, If you are short, my opinion is that the last few days shows you are going to suffer pain by 1000 paper cuts. a liitle each day and week as it climbs.
You said "They have a dependable track record to have confidence in.'
Depends on how you look at it Short Term the company has done exactly as you describe. But a few years back ( Long Term) the dividend exceeded earnings and the company attempted to disguise a large cut in dividends by switching to a monthly dividend payment schedule.
I continue to hold and accumulate shares on pull backs but this company has a long way to go ( many years) of increasing dividends until it reaches the status that you have awarded it. For comparison a company that has earned that status is O and the dividend yield reflects it.
O certainly has a nice track record, if you want a steady 4.6% yield. Given the debacle of 08/09, just about every company I've ever looked at got hit hard in that time period. What seems a bit peculiar is that companies like PNNT or O, that didn't take a hit back then, haven't seen the upside that many of the hardest hit companies did. So I tend to look past the 08/09 mess when it comes to a companies long term history. Just my opinion.