2 Dividend Stocks for Friday (SCD,FAV)

July 14, 2011, 3:10 pm

Happy Friday Masters. I stumbled on a couple of dividend paying income funds that look very promising: First Trust Active Dividend Income Fund (NYSE:FAV) and LMP Capital and Income Fund Inc. (NYSE:SCD).

First Trust Active Dividend Income Fund (FAV)

Dividend Yield: 10.61%

First Trust Active Dividend Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s primary investment objective is to seek a high level of current income. Its secondary objective is capital appreciation. The Fund invests at least 80% of its managed assets in a diversified portfolio of dividend-paying, multi-cap equity securities of both United States and non-United States issuers.

LMP Capital and Income Fund Inc. (SCD)

Dividend Yield: 8.47%

LMP Capital and Income Fund Inc. is a closed-ended balanced mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Clearbridge Advisors, LLC, Western Asset Management Company Limited, and Western Asset Management Company. The fund invests in the public equity and fixed income markets across the globe.

Stocks to Watch