I had some cash left over from my recent sale of Apple Inc. (NASDAQ:AAPL) stock. I resolved to keep it in cash for a while. That resolve lasted almost 24 hours.
Today I purchased 127 shares of TICC Capital Corp. (NASDAQ:TICC) at $9.74 each.
I love this stock. It currently pays a dividend of $0.29 per share each quarter. That's more than 11% each year. Dividend-reinvestment in the past has resulted in me accumulating a number of extra shares without trying too hard. For that matter, the dividend-reinvestment program through TDAmeritrade somehow purchases the shares for me at slightly below market value, which is especially nice.
In late 2011 I purchased 200 shares of TICC for $8 each. At some later point I purchased another 120 shares, for a total of 320. When I sold my shares in late 2013 I had 388.03 shares.
When I sold TICC I noted that I was concerned about their balance sheet, long term. I'm less concerned now. Cash flow looks good, and the company's cash to debt ratio doesn't look out of whack. I suppose I still have some concern about the company's ability to keep paying an awesome dividend in the event of an economic downturn, but I'm also less concerned about an economic downturn than I was in late 2013.
This time around TICC is going to be a buy and hold. Whenever I have some enough extra cash I'm going to pay the fee and buy some more shares and let them accumulate over time.
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