Today I finalize my reverse countdown of the dividend paying shipping stocks for the 1st half of 2009. This has been a 5 article review of the 25 shipping stocks that made distributions so far this year.
Here are the payors 21 through 25 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.
Tankers, tankers and more tankers! As I finish up the 25, I now see that 15 of the stocks that are still paying dividends are in the tanker business and 8 of the top 10. Of this group Navios Maritime Partners is in dry bulk and K-Sea is river barges of the tanker variety.
The yield figure for this group are skewed due to my practice of starting with an equal dollar weight of each stock as of January 1, 2009. As you can see from the price appreciation, many of these stock had been beaten down too far by the first of the year, thus putting a higher number of shares in my model portfolio. I need to figure out a way to balance this out going forward, since I doubt any of us will be able purchase share at prices similar to the beginning of 2009.
Do note that these stocks are still trading at very high yields based on the current share prices. This would indicate that the market is still discounting a dividend cut for these companies. Teekay Tankers has their vessels on the spot market, so the dividend will probably be lower. K-Sea is paying out more than what I see as free cash flow. I am not familiar enough with OSG America and Capital Product Partners to make a guess on the status of their payouts. I currently own a position in Navios Maritime Partners and hope the payout is secure.
Shipping Stocks dividends 2009, Part V
Today I finalize my reverse countdown of the dividend paying shipping stocks for the 1st half of 2009. This has been a 5 article review of the 25 shipping stocks that made distributions so far this year.
Here are the payors 21 through 25 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.
Tankers, tankers and more tankers! As I finish up the 25, I now see that 15 of the stocks that are still paying dividends are in the tanker business and 8 of the top 10. Of this group Navios Maritime Partners is in dry bulk and K-Sea is river barges of the tanker variety.
The yield figure for this group are skewed due to my practice of starting with an equal dollar weight of each stock as of January 1, 2009. As you can see from the price appreciation, many of these stock had been beaten down too far by the first of the year, thus putting a higher number of shares in my model portfolio. I need to figure out a way to balance this out going forward, since I doubt any of us will be able purchase share at prices similar to the beginning of 2009.
Do note that these stocks are still trading at very high yields based on the current share prices. This would indicate that the market is still discounting a dividend cut for these companies. Teekay Tankers has their vessels on the spot market, so the dividend will probably be lower. K-Sea is paying out more than what I see as free cash flow. I am not familiar enough with OSG America and Capital Product Partners to make a guess on the status of their payouts. I currently own a position in Navios Maritime Partners and hope the payout is secure.