Dividends4Life: High Dividend Stock Yields 15%, Strong Coverage, Selling Below Book Value

This stock yields over 14% with steady payouts over the past nine quarters. Its dividend coverage factor is over 2x for common units. It's selling below book value and has a strong balance sheet. We're heading back out onto the high seas this week to cover a long-time holding of ours...

Navios Maritime Midstream Partners LP (NYSE:NAP) owns, operates and acquires crude oil tankers, refined petroleum product tankers, chemical tankers and liquefied petroleum gas tankers. The company charters its vessels under long-term employment contracts to international oil companies, refiners and large vessel operators. It IPO'd in November 2014. In addition to having its base of contract fees, NAP also has a profit-sharing arrangement with its general partner, Navios Maritime Midstream Partners GP LLC, which, in turn, is owned by Navios Maritime Acquisition (NYSE:NNA).

Source: Seeking Alpha

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