2 Stocks Paying Dividends
Every Single Week

Income investors love receiving regular checks.  But until recently, those payouts typically only came in every three months, or in rare cases, once a month.

Now, however, a relative newcomer to the game, Social Finance Inc., or SoFi, has upped the ante with two ETFs that consistently payout on a weekly basis.

Until now, SoFi has specialized in refinancing student loans and home mortgages.  But it’s ventured into the market with a unique pair of ETFs that are the first to offer a weekly payout. So if you’re looking for a better way to manage your bills, SoFi may have the answers.

The only question you have to answer is whether you want that check to come from stocks or bonds, both of which provide their own advantages.

Here’s what you need to know…

Get A Nickel Per Share Every Friday from TGIF 

SoFi first broke the weekly payout barrier in October 2020, when it introduced its bond-based Weekly Income ETF (TGIF).  

TGIF is actively managed by Income Research & Management, a value-oriented fixed income manager with over 30 years of experience.

The fund has exposure to over 100 bonds across multiple industries to help manage risk. In order to reduce interest rate risk, the portfolio targets a duration of less than 3 years as opposed to longer duration bonds.

According to the prospectus, the fund expects to have an effective duration of short to intermediate term. But when it comes right down to it the fund managers pretty much have free reign in terms of security selection according to ETF.com.

The fund’s Top 10 holdings include bonds from stalwarts like Western Digital, Delta Airlines and Ford. The underlying portfolio is selected from a variety of U.S. dollar-denominated fixed income devices, including government and Treasury securities, agency bonds, bank loans, asset-backed securities and corporate debt – regardless of credit quality. High yield securities may also come from emerging markets.

So far at least, TGIF has maintained 5-cent weekly payout since inception – regardless of how much or how little its holdings actually pay out on a week-to-week basis.

Currently, the one-month NAV (net asset value) return is 1.27%, which brings the lifetime return to 6.01%, overall not a bad return for the first six months.

The yield happens to fall right in between what you’d typically find in an investment-grade and a junk bond fund.

The fund’s expense ratio clocks in at an affordable 0.59%, not cheap but not outrageous if that weekly payout appeals to you.

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When its latest entry opened up on May 11, SoFi covered the high frequency dividend spectrum when it launched its stock-based WKLY ETF.

The key difference versus TGIF is that WKLY is a passively managed fund that will track the SoFi Sustainable Dividend Index, which the company says “is made up of large- and mid-cap companies in both the U.S. and developed international markets that meet a robust set of sustainable dividend filters.”

The key word there is “sustainability.”

“To meet that criteria each holding must have paid regular dividends over the prior 12 months, and be forecasted to pay dividends over the next 12 months as well. And those dividends must be at least 90% of the annual dividends paid out both one and five years ago,” according to the prospectus.

Each one will also have to meet strict dividend payout and debt-to-equity ratios, as well as yield minimums. Meanwhile, no one company will be allowed to exceed 5% and no one sector will be allowed to exceed 30% of the portfolio.

The fund also will diversify its holdings to include a good mix of international companies, which typically deliver higher yields than U.S.-based blue chips. That international exposure allows SoFi to more comfortably target a fund yield of roughly 3% to 4%, according to Kiplinger.

The resulting portfolio of nearly 300 stocks is plastered with high-quality names like JPMorgan Chase (4.5% of assets), Nestle (3.2%) and Procter & Gamble (3.1%).

And just like TGIF, WKLY intends to pay out a flat-rate weekly dividend with little to no variance, no matter how much or how little its holdings actually pay out on a week-to-week basis.

There’s one really nice kicker – in order to reduce the potential tax burden for its shareholders, SoFi intends to pay out all its distributions in cash from dividends to avoid less favorable capital gains taxes.

In fact, if you decide to own them, you would probably be wise to plan ahead for future taxes for both these ETFs.

That’s because it might get really easy to use those steady deposits to pay for ordinary things, including groceries and the like. But at the end of the year, nearly 100% of these distributions will count as ordinary income. So you might want to set part of each distribution aside for a rainy day you know is coming.

Otherwise, enjoy those weekly checks!

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This Dividend Hunter tech fund pays a 12% yield to my readers.

Even better? My tech stock pays monthly, right before the end of the month when bills start coming in. I see this as an added bonus. The next payment is coming up… but it goes ex-div around the 18th. Buy it now, get the payment this month and then month after month you can watch your dividend income grow.

It’s part of my portfolio using a 36 month plan that can accelerate your income growth… especially practical if you feel like you have some catching up to do.

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