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The Oil & Gas Journal, first published in 1902, is the world's most widely read petroleum industry publication. OGJ delivers international oil and gas industry news; analysis of issues and events; practical technology for design, operation, and maintenance of oil and gas operations; and important statistics on energy markets and industry activity.

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Inflation, Recession or Soft Landing? This 7.8% Dividend Doesn’t Care

By: Contrarian Outlook

April 17, 2023 at 05:00 AM EDT

Inflation is falling—but is a recession next, or will we get that vaunted “soft landing” Jay Powell keeps talking about? Wouldn’t it be great if there was a dividend-payer built for either outcome? Just such an income play exists—it’s called a covered-call closed-end fund (CEF). They’re smart buys now because they pay big dividends: the CEF we’ll break down today—the Nuveen Dow 30 Dynamic Overwrite Fund (DIAX)— yields a healthy 7.8%. That not only gives us a high income stream, but it also increases our safety, as we’re getting the vast majority of our return in safe dividend cash. That’s one part of DIAX’s appeal—especially if a recession is headed our way (more on that shortly).… Read more