Dividend Stock Yields 15%, Plus 4 More 9% Well-Covered Dividends, Way Below Book Value

Looking for bargains in the high-dividend stock universe? There are usually factors and developments which bring about undervaluation for a stock, and this article's focus stock is certainly no exception. This common stock yields 15.56%. With much debate about its dividend coverage, we look for and find answers in this article. It also has four preferred shares yielding over 9%, all selling below par value. The common shares are selling at a price/book of just 0.57. It goes ex-dividend next week.

We've held on to Seaspan Corp. (NYSE:SSW) and some of its preferred shares for years, as we've ridden the waves of fortune, up and down, with this leading containership company. SSW relies on long-term contracts to lock in its cash flows. As of 11/1/16, SSW had 5.1 average years remaining on its contracts and $5.4B in contracted revenue, with an average vessel age of 5.4 years. After its price swoon, SSW is selling at just 57% of book value - there aren't a lot of high dividend stocks out there right now with such a cheap valuation. It also has one of the lower EV/EBITDA ratios we've seen recently, at 5.32x.

Source: Seeking Alpha

Related Articles:
- 7 Dividend Stocks With A Good Yield And Growth Balance
- 3 High-Yield Dividend Achievers With 25 Years of Increases
- 17 Investments That Pay Monthly Dividends
- 5 Dividend Stocks To Build Your Future Security
- 7 Dividend Stocks With A Low Payout Ratio