My current favorite high dividend stock , Safe Bulkers (SB), reported third quarter financials yesterday.
http://www.safebulkers.com/sbpr101711.pdf
In summary, they will continue to pay their $0.15 quarterly dividend. Safe Bulker’s dividend currently yields 9.13%. Their dividend payout ratio remains around a conservative 50% level. Earnings have decreased a few percentage points consistent with a horrible market in dry bulk shipping. The balance sheet results were mixed. Shareholder equity was up good, but current ratio and quick ratio were both down.
I will provide in-depth analysis tomorrow.
CONCLUSION – Safe Bulkers remains a buy below $7.00 per share. However, worldwide double dip recession will take the American stock market and Safe Bulkers lower. I think there will be opportunities to buy SB below $5.00 per share. I’m waiting to get closer to the bottom.
Disclosure: I don’t own Safe Bulkers, but I want to.
Subscribe today for free at www.myhighdividendstocks.com/feed to discover high dividend stocks with earning power and strong balance sheets.
Be seeing you!
No comments:
Post a Comment