Growth, whether it's dividend growth or earnings growth, we all want to be in on the rising part of the trajectory. In the shipping biz, the usual way to create growth is to take on new vessels. Management has raised the dividend for 14 straight quarters. The stock yields 9.7% with a conservative trailing payout ratio of 76%. Management expects to continue to pay increasing dividends...
Norway-based Ocean Yield ASA (OTCPK:OYIEF) has taken on 20 vessels over the past five quarters. It's also very appealing to us that these vessels are deployed in a variety of industries, which diversifies OYIEF's business risk. Another plus is that it operates on long-term contracts; currently, it has an average of 11.4 years left on its fleet's contracts with a backlog of $2.8B. You want earnings growth? Here it is - revenue rose 18%, adjusted net profit grew 21%, and EBITDA rose 22% over the past four quarters. Dividends/share grew nicely also, up 15.73%. Plus, management slightly decreased the dividend payout ratio, thanks to strong earnings, even though the unit count grew over 10%.
Source: Seeking Alpha
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