High-Dividend Stock Yields 16%, Has Strong Dividend Coverage, Priced Below Book Value

Is this market giving you that sinking feeling, that makes you wonder if you should abandon ship, or would you rather be intrepid and test the water? Many solid high dividend stocks have been discounted by the market indiscriminately. The question is - when should you climb aboard if you find one you like? This stock yields 16.5% and has strong distribution coverage of 2.17x. It has long-term, fee-based contracts with an average of over five years remaining on them and a major of industry tailwinds. It has no debt maturing until 2020 and no capex requirements.

We've written previously, in 2015, about Navios Maritime Midstream Partners LP, (NYSE:NAP), in some of our previous articles. This article will update that information and offer some comparisons of NAP to other shipping stocks we've covered recently. Profile: NAP is a publicly listed MLP that owns and operates very large crude oil tankers, VLLCs, under long-term employment contracts with international oil companies, refiners and large vessel operators.

Source: Seeking Alpha

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