Today I will continue with my listing and review of the shipping stocks that currently pay distributions. I am trying to give you an idea of the stability and continued ability to pay for each of the companies. The listing is in alphabetical order.
International Shipholding Corp. ISH reinstated a 50¢ per share dividend in the 3rd quarter of 2008 and has now paid that rate for 3 quarters in a row. The dividend appears secure as the company earned well over $4.00 per share in 2008 and a $1.31 in the 1st quarter of this year.
K-Sea Transportation PartnersKSP has paid 77¢ per share for the last several quarters. Before that it had a history of steadily increasing payouts. Four years ago the distribution was 54¢ per share. Over the last couple of quarters distributable cash flow has fallen below the actual distribution. A dividend reduction for KSP would not be a surprise.
Knightsbridge TankersVLCCF did not pay a dividend for the 1st quarter of 2009. VLCCF is a tanker company that lives and dies on the tanker spot market and the dividend follow along with the fluctuating revenues.. Over the last 5 years the quarterly dividend has been between $0.00 and $2.00 per share. Total distribution per share was $2.75 in 2008 and the best recent year was 2004 with $5.50 earned by shareholders.
I think the three stock listed today show the broad range of dividend policies and coverage in the shipping sector.
Quality of Dividends, Part III
Today I will continue with my listing and review of the shipping stocks that currently pay distributions. I am trying to give you an idea of the stability and continued ability to pay for each of the companies. The listing is in alphabetical order.
International Shipholding Corp. ISH reinstated a 50¢ per share dividend in the 3rd quarter of 2008 and has now paid that rate for 3 quarters in a row. The dividend appears secure as the company earned well over $4.00 per share in 2008 and a $1.31 in the 1st quarter of this year.
K-Sea Transportation Partners KSP has paid 77¢ per share for the last several quarters. Before that it had a history of steadily increasing payouts. Four years ago the distribution was 54¢ per share. Over the last couple of quarters distributable cash flow has fallen below the actual distribution. A dividend reduction for KSP would not be a surprise.
Knightsbridge Tankers VLCCF did not pay a dividend for the 1st quarter of 2009. VLCCF is a tanker company that lives and dies on the tanker spot market and the dividend follow along with the fluctuating revenues.. Over the last 5 years the quarterly dividend has been between $0.00 and $2.00 per share. Total distribution per share was $2.75 in 2008 and the best recent year was 2004 with $5.50 earned by shareholders.
I think the three stock listed today show the broad range of dividend policies and coverage in the shipping sector.