Dividends4Life: Little Known Dividend Stock Yields Over 9%, 12 Straight Dividend Hikes, More Coming In 2017

Our articles have covered various types of high dividend stocks in the shipping world, some of them in the oil and gas industry and others in the containership industry, but, until now, we haven't come across a worthwhile dividend stock that operates in both of these worlds. This stock yields 9.42%, with a 77% dividend payout ratio and 11-plus year contracts. It has raised its dividend for 12 straight quarters and should raise it again in 2017. It will take possession of more assets in the next few quarters, which will be immediately accretive to earnings. You've probably never heard of it, but you should check it out - revenue grew 17%, and EBITDA grew 20% in its most recent quarter.

After a lot of screening, we came across Ocean Yield ASA (OTCPK:OYIEF), a rapidly growing Norwegian shipping firm which operates in the oil and gas, containership and industrial markets. The Ocean Yield Group was established on 3/31/12, with a portfolio of oil-service assets previously controlled by Aker ASA. Since then, the company has committed a total of USD $1.8 billion in new investments, all towards assets with long-term charters within shipping and oil-service. Ocean Yield has continued to raise capital in the bond and equity markets, which has been used to fund further investments within oil-service, car carriers, chemical tankers, product tankers and liquefied ethylene gas carriers. OYIEF IPO'd in July 2013 on the Oslo stock exchange.

Source: Seeking Alpha

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