I have been reviewing the dividends or distributions paid by the shipping stocks I follow during the 1st half of 2009. 25 stocks paid some level of dividend and I have been listing and reviewing them from the lowest payout to the highest.
Here are the payors 16 through 20 on my list. The stocks are listed in this order: Company and stock symbol, dividend earned on $1000 invested on 1/1/2009 (divide by 5 to get an annualized percentage) and the share price change since the beginning of the year.
This group is all tankers, some speciality and product, some crude transport. You can see these stocks paid investors 7.6% to almost 10% in the 1st half alone. It is also clear from the share price action that the market does not think these payout rates are sustainable. Omega Navigation only paid a single dividend in the 1st half and suspended payouts indefinitely when they announced Q1 earnings. ONAV has moved to my suspended dividend list, leaving 24 stocks in the still paying category.
The Teekay spinoffs have performed extremely well compared to TK itself, which is down 10% Y-T-D. 30%+ returns for the 1st 6 months of 2009 should make investors happy!
After the Q1 earnings release I made a personal investment into DHT. I am hoping the current dividend level is sustainable.
Shipping Stocks Dividends 2009, Part IV
I have been reviewing the dividends or distributions paid by the shipping stocks I follow during the 1st half of 2009. 25 stocks paid some level of dividend and I have been listing and reviewing them from the lowest payout to the highest.
Here are the payors 16 through 20 on my list. The stocks are listed in this order: Company and stock symbol, dividend earned on $1000 invested on 1/1/2009 (divide by 5 to get an annualized percentage) and the share price change since the beginning of the year.
This group is all tankers, some speciality and product, some crude transport. You can see these stocks paid investors 7.6% to almost 10% in the 1st half alone. It is also clear from the share price action that the market does not think these payout rates are sustainable. Omega Navigation only paid a single dividend in the 1st half and suspended payouts indefinitely when they announced Q1 earnings. ONAV has moved to my suspended dividend list, leaving 24 stocks in the still paying category.
The Teekay spinoffs have performed extremely well compared to TK itself, which is down 10% Y-T-D. 30%+ returns for the 1st 6 months of 2009 should make investors happy!
After the Q1 earnings release I made a personal investment into DHT. I am hoping the current dividend level is sustainable.