It's nice to see that I've found a great high dividend stock before Jim Cramer. A caller asked him about Safe Bulkers the other day and Cramer responded that his didn't know the stock. Here is what Cramer had to say after he learned more about Safe Bulkers (SB).
Safe Bulkers (SB) has 16 dry bulk vessels and offers a 6.3% dividend. Cramer thinks the dividend is safe, since earnings are high enough to cover the dividend, the yield won't be raised again until 2012. SB is a good house in not such a good neighborhood, since the surplus of ships is an issue for the industry. With a 14% climb in just two weeks, Cramer might consider the stock an interesting buy on a pullback, but not at its current level.
Link to Cramer quote http://seekingalpha.com/article/262517-cramer-s-mad-money-my-most-unpopular-call-in-the-last-six-years-4-7-11
I agree with Cramer that you should consider buying Safe Bulkers when it is in the low $8.00 to $7.00 range. Any sizable market pullback should knock it down to that price range. Here is the link to all the articles I've written on Safe Bulkers: http://www.myhighdividendstocks.com/category/high-dividend-stocks/sb. I go into the issues in more detail than Cramer had time to expound upon on his show.
Disclosure: I don't own Safe Bulkers (SB) right now. I'm waiting for a pullback.
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