Do you own any shipping stocks? We've long been fans of certain shipping stocks due to their attractive yields, good dividend coverage, and long-term contracts. This stock yields 8.3% and went ex-dividend on 1/26/18. It's undervalued by over 5%. Dividend coverage is over 5x.
One of the granddaddies of the long-term contract business model is Seaspan Corp. (SSW), which has grown to be the largest independent containership owner/manager in the world. It has an average of seven years remaining on its long-term charters, which represent 90% of its revenue. To say that SSW has had its ups and downs over the past few years would be an understatement. Take a look at these quarterly growth figures (you better hold onto the railing, though, you might get a wee bit seasick):
Source: Seeking Alpha
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