A Congresswoman Bought Double-Digit Dividend Stocks: Here's A Breakdown

Virginia Foxx is a Republican who serves as the U.S. representative for North Carolina's 5th Congressional District.

Foxx has made 16 trades in the past 30 days and sits on the Committee of Education and Labor as well as the Committee for Oversight and Reform.

Foxx filed a joint ownership position in Green Plains Partners on Sept. 23 and Sept. 29, purchasing between $2,000 to $30,000 shares of its common stock. Foxx also bought $4,000 to $60,000 shares worth of Newtek in a joint ownership filing Sept 1. through Sept. 20.

On Sept. 27 Foxx sold between $15,000 to $50,000 shares of Newtek for an average price of $15.7 per share, which appeared to be at a loss as the purchase price of the stock was higher.

Learn more about these two high-yielding stocks Foxx is trading.

Newtek Business Services Corp (NASDAQ: NEWT) is offering a dividend yield of 20.65% or $3.10 per share annually, utilizing quarterly payments, with a track record of increasing its dividends once in the past year.

Newtek Business Services is a non-diversified, closed-end management investment company, providing business solutions designed to help organizations grow sales, reduce costs and minimize risk.

For the three months ended Sept. 30, 2022, Newtek funded a record $223.1 million in SBA 7(a) loans, which represented a 36.1% increase over $163.9 million of SBA 7(a) loan fundings for the three months ended Sept. 30, 2021.

The internally managed business development company (BDC), announced today it is forecasting a fourth-quarter 2022 cash distribution of $0.70 per share.

Also Read: A Congressman Just Sold JPMorgan Stock Ahead Of Earnings: See Two Dividend Stocks He Is Also Trading

Green Plains Partners LP (NASDAQ: GPP) is offering a dividend yield of 14.42% or $1.80 per share annually, through quarterly payments, with an inconsistent track record for increasing its dividend payments.

Green Plains Partners is a fee-based, limited partnership formed by parent company, Green Plains Inc., to provide ethanol and fuel storage, terminal and transportation services by owning, operating, developing and acquiring ethanol and fuel storage tanks, terminals, transportation assets and other related assets and businesses.

Todd Becker, president and CEO said, “We believe Green Plains’ ability to achieve higher throughput rates, as demonstrated in the second quarter, should benefit the partnership in future periods. As a result of consistent operations and low leverage, we felt confident in increasing the quarterly distribution for the fourth consecutive quarter.”

In the second quarter of 2022, the partnership reported an adjusted EBITDA of $12.9 million and distributable cash flow of $11.3 million, compared with an adjusted EBITDA of $12.7 million and distributable cash flow of $11.2 million for the same period in 2021.

Photo: Natee K Jindakum via Shutterstock