Income – Club Mouche Odet http://club-mouche-odet.com/ Sun, 07 Aug 2022 11:03:55 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://club-mouche-odet.com/wp-content/uploads/2021/06/icon-3.png Income – Club Mouche Odet http://club-mouche-odet.com/ 32 32 Ghana Parliament Passes Income Tax (Amended) Bill, 2022 https://club-mouche-odet.com/ghana-parliament-passes-income-tax-amended-bill-2022/ Sun, 07 Aug 2022 11:03:55 +0000 https://club-mouche-odet.com/ghana-parliament-passes-income-tax-amended-bill-2022/ Share this with more people! Parliament passed the Income Tax (Amendment) Bill 2022 to amend the Income Tax Act 2015 (Act 896) to extend the tax exemption for five years on gains on the realization of shares listed on the Ghana Stock Exchange. Mr Kwaku Kwarteng, Chairman of the Finance Committee of Parliament, moved the […]]]>

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Parliament passed the Income Tax (Amendment) Bill 2022 to amend the Income Tax Act 2015 (Act 896) to extend the tax exemption for five years on gains on the realization of shares listed on the Ghana Stock Exchange.

Mr Kwaku Kwarteng, Chairman of the Finance Committee of Parliament, moved the passage of the Income Tax (Amendment) Bill 2022 and was seconded by Dr Cassiel Ato Forson, Ranking Member of the Commission.

Among the objectives, the bill would extend the concession of the revenue stamp and vehicle income tax systems until the end of December 2022.

The Income Tax (Amendment) Bill 2022, which was first introduced in Parliament and read for the first time on Tuesday July 26, 2022, was returned by Mr. Alban Bagbin, President of the Parliament, for consideration and report by the 1992 Constitution and the Standing Orders of Parliament.

However, the finance committee met and determined that the bill was urgent and therefore certified that it must go through all the stages of passage in one day by article 106 (13) of the 1992 Constitution and Rule 119 of the Rules of Procedure. of Parliament.

The Bill contains two clauses of which Clause 1 amends Section 7 of the Act to provide for exemption from tax on gains derived from the realization of securities listed on the Ghana Stock Exchange until 31 December 2006.

“Article 2 amends the Sixth Schedule of Law 896 by providing for the suspension of quarterly income tax installments for the seated categories of persons for the first, second, third and fourth quarters of 2022”, a- he declared.

Mr Kwarteng told Parliament that after careful consideration, the Committee was of the view that the Bill was a step in the right direction as it sought to make the Ghana Stock Exchange attractive and bring some relief to businesses and investors. transport operators (Trotro drivers).

“Mr. Speaker, the Committee therefore recommends that the House concur in its report and enact the Income Tax (Amendment) Bill 2022 by the Constitution of 1992 and the Standing Orders of the House”, did he declare.

The Committee also observed that, as part of additional measures to provide relief to the most vulnerable members of society, the government has also suspended the payment of quarterly income tax installments for small businesses using the system income tax stamp and for trotro drivers using the vehicle income tax system. for the second, third and fourth quarters of 2021.

On Friday, July 22, Parliament also passed the Tax Exemptions Bill, 2022 to regulate the application of tax and other exemptions and provide for related matters.

Source: GNA

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IndexIQ Launches Multi-Sector Bond ETF | ETF strategy https://club-mouche-odet.com/indexiq-launches-multi-sector-bond-etf-etf-strategy/ Fri, 05 Aug 2022 04:30:10 +0000 https://club-mouche-odet.com/indexiq-launches-multi-sector-bond-etf-etf-strategy/ IndexIQ has launched a new actively managed fixed income ETF which aims to provide a high level of income by investing in several fixed income sectors globally. Stephen Cianci (I) and Neil Moriarty (r)co-heads of the global fixed income team at MacKay Shields. The IQ MacKay Multi-Sector Income ETF (MMSB US) was listed on NYSE […]]]>

IndexIQ has launched a new actively managed fixed income ETF which aims to provide a high level of income by investing in several fixed income sectors globally.

Stephen Cianci (I) and Neil Moriarty (r)co-heads of the global fixed income team at MacKay Shields.

The IQ MacKay Multi-Sector Income ETF (MMSB US) was listed on NYSE Arca with an expense ratio of 0.40%, coming to market with $25 million in initial assets.

The fund is sub-advised by MacKay Shieldsa global asset manager and affiliate member of New York Life Investments that manages over $40 billion in its fixed income portfolios.

The ETF’s day-to-day operations are led by Stephen Cianci and Neil Moriarty, senior managing directors and co-heads of MacKay Shields’ Global Fixed Income team. Cianci and Moriarty collectively have 65 years of experience in the financial services industry, while the pair will also draw on the expertise of teams dedicated to core fixed income, US high yield, taxable municipal bonds and to convertibles.

Stephen Cianci commented: “Our investment philosophy focuses on diversified sources of alpha potential, where it is essential not to rely on one or two levers to seek alpha, but rather to have the ability to discover value in all sectors. We believe fixed income valuations are significantly more attractive and current yields have significantly improved investors’ income profiles.

“As investors have suffered unprecedented declines in bond markets in 2022, we believe this is a compelling entry point for long-term investors as we see more opportunity through management. activated.”

Investment approach

The ETF is largely unrestricted in its ability to invest in all types of fixed income securities, geographies and credit quality; however, the fund will maintain a modified duration that is within one year of the benchmark Bloomberg Barclays US Universal Index.

Eligible instruments include government and agency bonds, municipal bonds, corporate debt, mortgage and asset backed securities, bank loans, convertible bonds, contingent convertible bonds, preferred securities and hybrid instruments. Up to 60% of the portfolio may be invested in bonds rated below investment grade and up to 20% in emerging market issuers. The fund will not take exchange risk against the US dollar in excess of 20% of the total assets of the portfolio.

The portfolio is constructed using a combination of proprietary macro analysis and bottom-up stock selection, including analysis of the apparent ESG risks of issuers.

The fund is the fifth actively managed fixed income ETF co-developed by IndexIQ and Mackay Shields. Three of the existing funds target different segments of the municipal bond market, including the IQ MacKay Municipal Insured ETF (MMIN US), IQ MacKay Municipal Intermediate ETF (MMIT US)and IQ MacKay California Municipal Intermediate ETF (MMCA US)while the IQ MacKay ESG Core Plus Bond ETF (ESGB US) is designed to serve as a core holding in socially responsible fixed income portfolios. Collectively, the four ETFs house approximately $800 million in assets.

Ian Forrest, Head of IndexIQ, added: “We are delighted to strengthen our existing partnership with MacKay Shields with the launch of this new multi-sector approach to the fixed income market. In these uncertain times in the bond market and with the continued demand for actively managed strategies to combat the resulting volatility, it is especially important to provide our clients with a wide range of portfolio solutions that they can use as basic allocations in any market environment.

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cii: the president of the CII calls for lower income tax rates https://club-mouche-odet.com/cii-the-president-of-the-cii-calls-for-lower-income-tax-rates/ Wed, 03 Aug 2022 12:49:00 +0000 https://club-mouche-odet.com/cii-the-president-of-the-cii-calls-for-lower-income-tax-rates/ According to Sanjiv Bajaj, President of the Confederation of Indian Industry (CII), cutting income tax and putting more money in consumers’ pockets is vitally important to reviving consumer demand in India. economy. In a statement, he said the government should consider reducing personal income tax rates in its next reform campaign as it would increase […]]]>
According to Sanjiv Bajaj, President of the Confederation of Indian Industry (CII), cutting income tax and putting more money in consumers’ pockets is vitally important to reviving consumer demand in India. economy.

In a statement, he said the government should consider reducing personal income tax rates in its next reform campaign as it would increase disposable incomes and restart the demand cycle.

In another suggestion at the center, Bajaj said India needed to increase its foreign exchange reserves to boost the economy, especially given the capital outflows from foreign institutional investors, prompted by an uncertain global economic environment.

According to Bajaj, the government might consider releasing an India Millennial Bonds special, as was done in 2008 for this.

He said the center should work on including some of the large-cap companies in global equity indices such as the MSCI and FTSE indices; accelerate India’s entry into JP Morgan’s Global Emerging Markets Bond Index and Barclays’ Global Bond Index.

Among the short-term measures that could be taken, Bajaj highlighted the importance of expanding the production-linked incentive program and including more sectors in its scope, especially those that are labour-intensive. labor and also in sectors where our imports are high.

According to him, a PLI for electrolyzers will help achieve India’s vision of producing 5 million tonnes of green hydrogen by 2030 and also becoming an exporter of green hydrogen.

“The concept of LIPs should be extended to service sectors in the form of employment-related incentive programs (ELI). As a start, CII suggests instituting ELIs in four employment-intensive, high-growth-potential service sectors – tourism, logistics, retail and film, animation and gaming,” the CII statement reads.

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StockNews.com Downgrades Office Properties Income Trust (NASDAQ:OPI) to Retain https://club-mouche-odet.com/stocknews-com-downgrades-office-properties-income-trust-nasdaqopi-to-retain/ Sun, 31 Jul 2022 03:08:27 +0000 https://club-mouche-odet.com/stocknews-com-downgrades-office-properties-income-trust-nasdaqopi-to-retain/ Office Property Income Trust (NASDAQ:OPI – Get a rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday. Other analysts have also published research reports on the stock. B. Riley lowered his price target on Office Properties Income Trust shares from $42.00 to $38.00 in a […]]]>

Office Property Income Trust (NASDAQ:OPI – Get a rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Other analysts have also published research reports on the stock. B. Riley lowered his price target on Office Properties Income Trust shares from $42.00 to $38.00 in a Monday, May 2 research note. TheStreet downgraded shares of Office Properties Income Trust from a “c-” rating to a “d+” rating in a research note on Wednesday, June 1. Finally, Morgan Stanley lowered its price target on Office Properties Income Trust shares from $18.00 to $16.00 and set an “underweight” rating for the company in a Tuesday 19 research note. July.

Office property income trust rises 2.7%

NASDAQ OPI shares rose $0.54 during Friday’s trading, hitting $20.78. The company had a trading volume of 275,475 shares, compared to an average volume of 288,154. The company’s fifty-day moving average price is $20.32 and its 200-day moving average price is $22.90 . Office Properties Income Trust has a 12-month low of $18.75 and a 12-month high of $29.69. The stock has a market capitalization of $1.01 billion, a P/E ratio of -16.89 and a beta of 1.13. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt ratio of 1.77.

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Office Property Income Trust (NASDAQ:OPI – Get a rating) last released its quarterly results on Thursday, April 28. The company reported ($0.28) EPS for the quarter, missing analyst consensus estimates of $1.27 per ($1.55). Office Properties Income Trust posted a negative net margin of 10.26% and a negative return on equity of 3.97%. The company posted revenue of $147.35 million in the quarter, versus a consensus estimate of $148.12 million. As a group, research analysts expect Office Properties Income Trust to post earnings per share of 4.7 for the current year.

Institutional Trading of Office Properties Income Trust

A number of hedge funds and other institutional investors have recently been buying and selling shares of OPI. CWM LLC purchased a new stake in shares of Office Properties Income Trust in Q4 for $25,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Office Properties Income Trust by 227.0% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,040 shares of the company worth $26,000 after acquiring 722 additional shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Office Properties Income Trust in Q4 for $34,000. ACG Wealth bought a new stake in shares of Office Properties Income Trust in Q2 worth $29,000. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Office Properties Income Trust in Q4 worth $66,000. Institutional investors hold 74.41% of the company’s shares.

About the Office Property Income Trust

(Get a rating)

OPI is a REIT focused on owning, operating and leasing properties primarily leased to single tenants and those with high credit quality characteristics such as government entities. OPI is managed by the operating subsidiary of The RMR Group Inc (Nasdaq: RMR), an alternative asset management company headquartered in Newton, Massachusetts.

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In CT, social housing drives up property values https://club-mouche-odet.com/in-ct-social-housing-drives-up-property-values/ Thu, 28 Jul 2022 04:01:00 +0000 https://club-mouche-odet.com/in-ct-social-housing-drives-up-property-values/ Planning and zoning meetings across Connecticut have been punctuated by decades of public comments that low-income housing, if the commission dared to allow such housing to be introduced in their city, would reduce the value of homeowners’ homes. holders. The argument could be summarized that the development of social housing, by its very proximity to […]]]>

Planning and zoning meetings across Connecticut have been punctuated by decades of public comments that low-income housing, if the commission dared to allow such housing to be introduced in their city, would reduce the value of homeowners’ homes. holders. The argument could be summarized that the development of social housing, by its very proximity to existing houses, reduces the sale value of these houses, thus imposing, in effect, an additional property tax on the holders.

My analysis of the data shows otherwise.

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Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Stock price rises above 50-day moving average of $0.00 https://club-mouche-odet.com/ellsworth-growth-and-income-fund-nyseamericanecf-stock-price-rises-above-50-day-moving-average-of-0-00/ Tue, 26 Jul 2022 07:36:07 +0000 https://club-mouche-odet.com/ellsworth-growth-and-income-fund-nyseamericanecf-stock-price-rises-above-50-day-moving-average-of-0-00/ Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF – Get a rating) the stock price rose above its 50-day moving average during Monday’s session. The stock has a 50-day moving average of $0.00 and is trading as low as $9.04. Shares of the Ellsworth Growth and Income Fund last traded at $8.97, with a volume of […]]]>

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECFGet a rating) the stock price rose above its 50-day moving average during Monday’s session. The stock has a 50-day moving average of $0.00 and is trading as low as $9.04. Shares of the Ellsworth Growth and Income Fund last traded at $8.97, with a volume of 58,311 shares traded in hands.

Ellsworth Growth and Income Fund gains 0.3%

Ellsworth Growth & Income Fund Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 23. Shareholders of record on Wednesday, June 15 received a dividend of $0.13 per share. The ex-dividend date was Tuesday, June 14. This represents a dividend of $0.52 on an annualized basis and a yield of 5.80%.

Insider Trading at Ellsworth Growth and Income Fund

Separately, insider Mario J. Gabelli purchased 190,000 shares of the company in a trade dated Friday, July 1. The stock was purchased at an average price of $10.00 per share, for a total transaction of $1,900,000.00. Following the purchase, the insider now owns 190,000 shares of the company, valued at approximately $1,900,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. In related news, Chairman James Andrew Dinsmore purchased 3,000 shares of Ellsworth Growth and Income Fund in a trade dated Friday, July 1. The shares were acquired at an average cost of $10.00 per share, for a total transaction of $30,000.00. Following the transaction, the president now directly owns 3,000 shares of the company, valued at $30,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, available at this link. Additionally, insider Mario J. Gabelli purchased 190,000 shares of the company in a trade on Friday, July 1. The shares were purchased at an average cost of $10.00 per share, for a total transaction of $1,900,000.00. Following the purchase, the insider now directly owns 190,000 shares of the company, valued at $1,900,000. Disclosure of this purchase can be found here. Insiders of the company hold 0.54% of the shares of the company.

Ellsworth Growth and Income Fund Institutional Trading

Several institutional investors have recently changed their portfolio of ECFs. Landscape Capital Management LLC bought a new position in Ellsworth Growth and Income Fund in Q4 for a value of approximately $191,000. 6 Meridian bought a new equity position in the Ellsworth Growth and Income Fund in the fourth quarter, valued at around $245,000. Advisor Group Holdings Inc. increased its stake in shares of Ellsworth Growth & Income Fund by 12.4% during the 4th quarter. Advisor Group Holdings Inc. now owns 93,590 shares of the investment management company valued at $1,157,000 after buying an additional 10,334 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Ellsworth Growth and Income Fund by 18.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 22,490 shares of the investment management company worth $278,000 after acquiring 3,468 additional shares in the last quarter. Finally, Doliver Advisors LP increased its stake in Ellsworth Growth and Income Fund by 9.5% during the fourth quarter. Dliver Advisors LP now owns 12,834 shares of the investment management company worth $141,000 after acquiring 1,113 additional shares in the last quarter. Institutional investors hold 30.02% of the company’s shares.

About Ellsworth Growth & Income Fund

(Get a rating)

Ellsworth Growth and Income Fund Ltd. is a closed-end equity mutual fund launched by GAMCO Investors, Inc. The fund is managed by Gabelli Funds, LLC. It invests in public stock markets. The fund invests primarily in convertible securities. It invests in shares of companies of all market capitalizations.

See also



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Latest changes to income tax rules, including cash deposits. Read here https://club-mouche-odet.com/latest-changes-to-income-tax-rules-including-cash-deposits-read-here/ Sun, 24 Jul 2022 03:28:09 +0000 https://club-mouche-odet.com/latest-changes-to-income-tax-rules-including-cash-deposits-read-here/ The latest income tax rule changes you should know about Three major changes to income tax rules, proposed in the EU budget for 2022, came into force on July 1. Every taxpayer should be aware of these latest updates. The three significant changes are related to Aadhaar-PAN linking, crypto investments, and benefits received by social […]]]>

The latest income tax rule changes you should know about

Three major changes to income tax rules, proposed in the EU budget for 2022, came into force on July 1. Every taxpayer should be aware of these latest updates.

The three significant changes are related to Aadhaar-PAN linking, crypto investments, and benefits received by social media influencers and doctors.

In line with changes to income tax rules, late fees for the Aadhaar-PAN link have been increased, and social media influencers, as well as doctors, will have to pay an additional 10% TDS on benefits from sales promotions. Cryptocurrency investments will also be subject to 1% TDS.

The government has set various limits on cash transactions to curb black money. Know the cash transactions that can result in serious penalties.

Let’s see the changes in detail.

PAN-Aadhaar Link Delay Charges:

The last date for the Aadhaar-PAN link was June 30. According to the Central Board of Direct Taxation (CBDT), those who failed to link Aadhaar to PAN will now have to pay a fine of Rs 1,000.

The increased late fees went into effect on July 1. Previously, the CBDT allowed Aadhaar and PAN to be linked between March 31 and June 30 with a late fee of Rs 500.

TDS on cryptocurrency:

Investments in Virtual Digital Assets (VDA) of more than Rs 10,000, including cryptocurrencies, will attract a withholding tax (TDS) of 1% from July 1. cent TDS on crypto investments.

The 1% TDS will be added to the 30% flat tax on cryptocurrency transactions, as proposed in the Union budget.

TDS will also apply to NFT transactions over Rs 10,000. Section 47A of the Information Technology Act defines VDA as any information, code, number or token except currency Indian or any other foreign currency, generated by cryptographic or other means.

However, refunds can be claimed for TDS on trades involving losses. Thus, experts advise you to declare your investments in cryptocurrency in your ITR file.

Tax on benefits received by doctors and influencers:

As proposed in the Union Budget, Section 194R was inserted into the Computers Act 1961. In the Union Budget 2022, the government included a new Section 194R in the Income Tax Act 1961 on income.

According to the new section, 10% of TDS will be taken from the benefits of sales promotions by doctors and social media influencers. The TDS will be applicable for benefits of more than Rs 20,000 in a financial year.

Doctors who receive samples from drug manufacturers will be required to pay 10% TDS once the total amount exceeds Rs 20,000 in a fiscal year.

However, this will not apply to doctors in government positions.

Other changes: For cash deposits over ₹20,000,000 in one year, rule change

Cash transactions have traditionally played an important role in the Indian economy and are a persistent cause of the accumulation of black money, so the government has set various limits.

Deadline for filing the IT declaration:

The tax return filing deadline is July 30 and is not likely to be extended.

Anyone whose annual income is above the exemption ceiling must pay the tax. Income tax (IR) is levied on a slab basis, which means that rates vary according to income levels. The tax rate changes as income increases.

Read also :

How to File a Tax Return Without Form 16

These people must file an income tax return. Read details

Why should you file your tax returns on time? 5 important reasons

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Inflation hits low-income Fairfax County families hardest | Fairfax County https://club-mouche-odet.com/inflation-hits-low-income-fairfax-county-families-hardest-fairfax-county/ Fri, 22 Jul 2022 04:00:00 +0000 https://club-mouche-odet.com/inflation-hits-low-income-fairfax-county-families-hardest-fairfax-county/ The inflation rate hit a new high in June, according to the US Department of Labor. Over the past 12 months, prices have risen 9.1% for consumers, the highest rate since November 1981. The economy has not spared Fairfax County. The 2022 Needs Assessment, the latest edition of a countywide study conducted every three years, […]]]>

The inflation rate hit a new high in June, according to the US Department of Labor. Over the past 12 months, prices have risen 9.1% for consumers, the highest rate since November 1981.

The economy has not spared Fairfax County. The 2022 Needs Assessment, the latest edition of a countywide study conducted every three years, reported that the county faced a 7.5% increase in consumer prices from May 2021 to May 2022, also a 40-year high. The cost of transportation, including gasoline, has increased the most, with a 17.9% increase over the past 12 months and a 23.8% increase over the past five years. Food was the second highest cost, increasing 8.4% over the past year and 16.5% over the past five years.

This year’s needs assessment also showed that households in the United States with lower annual incomes – less than $58,421 per year – spent more money than other households with higher annual incomes from 2016. to 2020. The Fairfax County Department of Family Services has suggested that due to the ending of some government benefits, like the child tax credit, low-income families in the county will likely have to shell out even more for basic necessities such as health care, food and childcare.

Lisa Lombardozzi is President and Food Committee Chair of LINK, Inc., a volunteer organization that helps deliver emergency food supplies to approximately 75 families per month in Herndon, West Loudoun County and the surrounding community. . She said LINK has been very busy lately.

“LINK has witnessed a constant demand for food aid,” she said. “We continue to add about 20 new families per month. We are operating at 400% of pre-pandemic levels. »

LINK provides food to all kinds of clienteles, Lombardozzi said, including “the working poor, families, individuals, the elderly and the homeless.” She added that all a potential customer would have to do for help would be to call 703-437-1776.

The organization also needs more volunteers to respond to the high number of people who need help, especially delivery drivers, Lombardozzi said.

Hannah Wilson works with Food For Others, a larger volunteer operation with a similar goal, which served nearly 74,000 people in northern Virginia last year. She said their organization has also noticed an increased demand for help with food security.

“We have noticed an increase in the number of families asking for food aid. We typically serve about 3,000 families per week through our combined programming,” she said. “Last year, between January and July, we served 1,049 new households. This year, over the same period, the number of new households we served in the first six months increased by 170%. »

Wilson said that because of the rate of inflation, the typical customers Food For Others serves — young families — are likely seeking help because they’ve suddenly become food insecure.

“Since January 1, 2,820 new households have come to our Merrifield warehouse to pick up food,” Wilson said. “Among these households, 59% of them included children under the age of 18.”

Food For Others has a few new goals on the horizon, Wilson said, to help ease the stress of food insecurity caused by soaring prices.

“For the next six months, we will be distributing food at Skyline Towers [in Falls Church] the fourth Thursday of the month,” she said. “We have also launched a delivery program in collaboration with DoorDash. The program allows around 20 customers with reduced mobility to receive food at their doorstep.

Wilson suggested visiting 211virginia.org would help Virginians find other resources they might need besides food.

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St. Paul tenants seek appeal as low-income landlord granted rent cap exemptions https://club-mouche-odet.com/st-paul-tenants-seek-appeal-as-low-income-landlord-granted-rent-cap-exemptions/ Wed, 20 Jul 2022 04:43:20 +0000 https://club-mouche-odet.com/st-paul-tenants-seek-appeal-as-low-income-landlord-granted-rent-cap-exemptions/ St. Paul tenants seek appeal as low-income landlord granted rent cap exemptions Tenants in a low-income building thought the days of massive rent increases were over thanks to a new rent cap rule in St. Paul. But shortly after the law took effect this spring, they found out their landlord had received an exemption. ST. […]]]>

Tenants in a low-income building thought the days of massive rent increases were over thanks to a new rent cap rule in St. Paul. But shortly after the law took effect this spring, they found out their landlord had received an exemption.

“It was supposed to be capped at 3%,” resident Hannah Gray said. “That’s what we voted on.”

St. Paul tenants say they’re not getting what they asked for in rent stabilization, now finding landlords have a way around it.

“I’m not surprised but very angry,” resident Katherine Banbury said.

Tenants are two of the first to try to fight the exemptions enshrined in the new law, after their rents were recently increased by 8%.

“We are happy to honor our agreements with the city and the ordinance – we are happy to follow through,” said Dominion Senior Vice President Owen Metz. “We follow the rules.”

Dominium Apartments has more than 1,000 low-income units in St. Paul applying for and getting exemptions from the 3% rent cap, arguing, among other things, that operating costs have skyrocketed in recent years.

“It definitely got us thinking about our options,” Metz said.

The developer says the new caps make them think twice about doing business in St. Paul.

“I mean it’s a problem and a question for the market in general, how do we interpret that, how do we accept lower return and higher risk to work in St. Paul compared to other communities” , added Metz. .

Tenants worry about what will happen if they don’t win their appeal.

“If Dominium can step in and rewrite the rules in their favor, the process clearly isn’t working,” Gray said.

No decision was made during this appeal hearing on Tuesday. City staff requested additional documents and scheduled all parties to return to City Hall in September. But that won’t be the last time this issue arises with many developers and owners asking for this same exemption.

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This stock of energy is essential if you want passive income https://club-mouche-odet.com/this-stock-of-energy-is-essential-if-you-want-passive-income/ Mon, 18 Jul 2022 13:38:00 +0000 https://club-mouche-odet.com/this-stock-of-energy-is-essential-if-you-want-passive-income/ The energy sector is large and varied, although most investors rightly view it as highly cyclical. Yet the risk of big upturns followed by painful downturns does not really extend to every corner of the energy industry. In particular, midstream energy companies often have very reliable cash flow and a track record of paying dividends. […]]]>

The energy sector is large and varied, although most investors rightly view it as highly cyclical. Yet the risk of big upturns followed by painful downturns does not really extend to every corner of the energy industry. In particular, midstream energy companies often have very reliable cash flow and a track record of paying dividends. And one of the best names in the midstream niche is the North American giant Enbridge (IN B 1.19%). Here’s why you might want to add it to your portfolio.

Certain bona fide dividends

If you’re thinking about passive income, you’ll want to check out Enbridge’s Dividend History. For starters, the dividend yield today is a generous 6.4%. That’s way more than you’d get from SPDR S&P 500 ETF Trust, which only yields around 1.5% today. However, the key for Enbridge is that the dividend that guarantees this return is extremely reliable.

Image source: Getty Images.

For starters, the dividend has been increased every year for 27 consecutive years, putting it in the Dividend Aristocrat space. The average annual increase over the past decade is 9.7%. And while recent increases have been more modest (the last increase was just 3%), that’s because management believes the stock isn’t rewarded enough for dividend increases – not because that it does not have enough liquidity for larger increases (see below). If the stock price were to rise and the yield fell to a lower level (for years the yield trended in the single digits), dividend growth could return to more historic levels.

Too much money?

What’s interesting about Enbridge’s dividend today is how safe it is. For starters, the company has an investment-grade track record, which gives it a great ability to withstand adversity. But it’s also generating about $2 billion in excess cash flow above what it needs to pay the current dividend and fund its existing capital investment plans. This excess cash is currently being used to buy back shares, but could be used for dividend increases, acquisitions or additional internal investment opportunities. Overall, there’s not much to suggest the dividend is at risk here, especially considering the company’s fairly modest 65% distributable cash flow payout ratio for the dividend. current.

A strong core

The underlying rationale for all of these facts is that Enbridge operates a large, high-paying midstream business. The company’s market capitalization is $85 billion, making it one of the biggest midstream names in North America. And the vast majority of its revenue comes from either user fees from its pipeline and storage assets — about 84% of earnings before interest, taxes, depreciation, and amortization (EBITDA) — from regulated fees in its utility operations natural gas utilities (12%), or long-term contracts in its clean energy business (4%).

These aren’t exciting deals, but they all provide reliable cash flow to support the dividend. Notably, this remains true whether oil prices are high or low, because Enbridge is paid for the use of its assets. So as long as there is demand, which seems likely for decades to come, Enbridge should be able to provide shareholders with a reliable stream of passive income and, at the same time, continue to grow further in the business. future of clean energy.

A boring dividend stock to fall in love with

There’s a saying on Wall Street that you shouldn’t fall in love with the stocks you own. But if you’re a long-term investor looking to create a large, reliable stream of passive income, perhaps to supplement your retirement income, Enbridge looks like the type of stock you might want to add to your portfolio and “like” a lot.

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