Dividends4Life: Undervalued, Oversold High-Dividend Stock Now Has 4 High-Yield Dividends To Offer

Dividend Growth Stocks News

Shopping for steady high-yield income? Seaspan, (SSW), not only has oversold common shares with a 5%-plus dividend yield, it also recently introduced a new, E-series preferred dividend, (SSW-E), which yields over 8%. We've listed both SSW and these new preferred shares in the Industrials Section of our High Dividend Stocks By Sector Tables. SSW Preferred Dividends=Secure High-Yield Income: SSW currently has 3 different series of preferreds, which yield from just under 8%, up to 8,69%. Since they're cumulative, these shares offer you secure dividend income, and a better margin of safety than the common shares, because SSW must pay you any missed dividends upon redeeming your shares.

In addition, the preferred dividends must be paid before the common dividends, (i.e. SSW can't suspend its preferred dividends without also suspending its common dividends). Preferreds also take precedence over the common shares in any insolvency case, since they have a greater claim on the company's assets. We've owned both SSW common and preferreds for years, and they've never missed a quarterly dividend payment. In fact, they've never lowered a preferred quarterly dividend payment, but they did slash their quarterly common dividend from $.475 to $.10 during the recession, in 2009.

Source: Seeking Alpha

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