Continuing my countdown of dividend paying shipping stocks. I a trying to give a quick recap of the stability and coverage of these distributions.
Navios Maritime HoldingsNM pays what in this sector would be considered a nominal dividend of 6¢ per share. From 2006 until the 2nd quarter of 2008 it was 7¢, then jumped to 9¢ for two quarters before being reduced to the current payout for the last two periods. The dividend appears to be somewhere around half of the net income. Cash flow when you figure in depreciation should be more than sufficient to cover the payout.
Navios Maritime Partners LPNMM is an MLP style spinoff from Navios Maritime. It appears that NMM was able to skim the cream off the dry bulk contracts from NM and pays a hefty dividend. The ships are on long term insured contracts. The current distribution of 40¢ per share puts the yield at 17%. NMM will be adding to the fleet and the payout should grow over time. I personally own shares of NMM and plan to buy more.
Nordic American Tanker NAT is a Suezmax only tanker company that has all of their vessels except one chartered in the spot market. The dividend will fluctuate each quarter based on the tanker spot rates and Nordic’s cash flow. In this century the quarterly distribution has varied between 32¢ and $1.88 per share. Over the last 20 quarters (5 years) NAT has paid out a total of $23.36 in dividends. The company has no debt and will pay a distribution in almost any foreseeable market condition. Tanker rates have been very low since early 2009 so the payouts for the next few quarters could be pretty slim. I own shares in NAT also.
Again, these three stocks show the different styles of earning revenues and paying them out to shareholders. More info on dividend paying shipping stocks will be up soon.
Quality of Dividends, Part IV
Continuing my countdown of dividend paying shipping stocks. I a trying to give a quick recap of the stability and coverage of these distributions.
Navios Maritime Holdings NM pays what in this sector would be considered a nominal dividend of 6¢ per share. From 2006 until the 2nd quarter of 2008 it was 7¢, then jumped to 9¢ for two quarters before being reduced to the current payout for the last two periods. The dividend appears to be somewhere around half of the net income. Cash flow when you figure in depreciation should be more than sufficient to cover the payout.
Navios Maritime Partners LP NMM is an MLP style spinoff from Navios Maritime. It appears that NMM was able to skim the cream off the dry bulk contracts from NM and pays a hefty dividend. The ships are on long term insured contracts. The current distribution of 40¢ per share puts the yield at 17%. NMM will be adding to the fleet and the payout should grow over time. I personally own shares of NMM and plan to buy more.
Nordic American Tanker NAT is a Suezmax only tanker company that has all of their vessels except one chartered in the spot market. The dividend will fluctuate each quarter based on the tanker spot rates and Nordic’s cash flow. In this century the quarterly distribution has varied between 32¢ and $1.88 per share. Over the last 20 quarters (5 years) NAT has paid out a total of $23.36 in dividends. The company has no debt and will pay a distribution in almost any foreseeable market condition. Tanker rates have been very low since early 2009 so the payouts for the next few quarters could be pretty slim. I own shares in NAT also.
Again, these three stocks show the different styles of earning revenues and paying them out to shareholders. More info on dividend paying shipping stocks will be up soon.