There is not much news in the shipping stock sector between earnings reporting periods so I have been looking for something interesting to write about. I have decided to go through the stocks on my list that are currently paying dividends and give a short review of their dividend history and policies.
My stock market interest is focused around companies that pay distributions. After watching the market for the last year and a half, I have come to the conclusion that the safest money is that which is paid out to me as dividends. The companies that have been able to maintain their distributions over the last year or so have rewarded their investors for believing in the companies. Those investors that bought these stocks when the prices were stupidly low (not a shipping company but AYR at $2.50 per share!) have done very well over the last 8 months.
I will be reviewing the dividend policies of 2 to 3 stocks every couple of days in alphabetical order. So here we go:
Capital Product Partners LPCPLP has been paying steadily increasing dividends, currently at 41¢ per share. At the IPO in 2007 the minimum distribution level was set at 37.5¢ per share. In January the board of directors declared a one-time distribution of $1.05 that was paid instead of the usual 41¢. Cash flow seems sufficient to maintain the distribution level.
DHT Maritime Inc.DHT appears to have a minimum distribution level of 25¢ per quarter. Payouts have been higher when profit sharing on their fleet of chartered tankers do well. Quarterly payouts have ranged from 25¢ to 53¢ over the last 4 years.
Euroseas Ltd.ESEA has a flexible dividend based on the board’s decision each quarter. From 2005 until 2008 the quarterly number had been between 20¢ and 30¢ per share. For the 1st two payouts of 2009 the rate has been at 10¢.
OK, there is the information on the first 3 out of 24. I see that Frontline is next on the alphabetical list, so the next post will be fun.
Quality of Dividends, Part I
There is not much news in the shipping stock sector between earnings reporting periods so I have been looking for something interesting to write about. I have decided to go through the stocks on my list that are currently paying dividends and give a short review of their dividend history and policies.
My stock market interest is focused around companies that pay distributions. After watching the market for the last year and a half, I have come to the conclusion that the safest money is that which is paid out to me as dividends. The companies that have been able to maintain their distributions over the last year or so have rewarded their investors for believing in the companies. Those investors that bought these stocks when the prices were stupidly low (not a shipping company but AYR at $2.50 per share!) have done very well over the last 8 months.
I will be reviewing the dividend policies of 2 to 3 stocks every couple of days in alphabetical order. So here we go:
Capital Product Partners LP CPLP has been paying steadily increasing dividends, currently at 41¢ per share. At the IPO in 2007 the minimum distribution level was set at 37.5¢ per share. In January the board of directors declared a one-time distribution of $1.05 that was paid instead of the usual 41¢. Cash flow seems sufficient to maintain the distribution level.
DHT Maritime Inc. DHT appears to have a minimum distribution level of 25¢ per quarter. Payouts have been higher when profit sharing on their fleet of chartered tankers do well. Quarterly payouts have ranged from 25¢ to 53¢ over the last 4 years.
Euroseas Ltd. ESEA has a flexible dividend based on the board’s decision each quarter. From 2005 until 2008 the quarterly number had been between 20¢ and 30¢ per share. For the 1st two payouts of 2009 the rate has been at 10¢.
OK, there is the information on the first 3 out of 24. I see that Frontline is next on the alphabetical list, so the next post will be fun.