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Posted by
Two Blokes Jun 10 -
Filed in
Stock
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7 views
WHF's portfolio quality continues to deteriorate, with non-accruals rising to 8.8% and earnings declining, justifying my ongoing sell rating. Despite a 17% dividend yield and a 25.6% discount to NAV, I see these as reflections of risk and weak fundamentals, not buying opportunities. Net investment income fails to cover the dividend, and reliance on spillover income is unsustainable; a dividend cut appears likely and necessary.
