Seaspan Declares Quarterly Dividends on Common and Preferred Shares (Seite 3) | Diskussion im Forum

[R-BgO]

Antwort auf Beitrag Nr.: 54.151.841 von R-BgO am 24.01.17 13:42:50

offenbar noch nicht viel:

-15% heute...

https://www.fool.com/investing/2017/02/01/buy-costamare-and-…

...

Seaspan investors in particular could endure especially rough seas, because Morgan Stanley is predicting that "weak global trade and prolonged oversupply of containerships" will result in continued "declining earnings" among shippers. That's especially concerning for Seaspan, which Morgan Stanley says has a "deteriorating balance sheet and liquidity position," and is burning through its cash at a rate in excess of "~$200m."


3. Declining dividends

Already, this miserable market for containerships has forced Costamare to cut its dividend payout by 65%. Nevertheless, Costamare stock still yields 7.5% today, which is none too shabby. Combined with a predicted 25% rise in price to $7 per share, it creates the potential for a 32.5% profit for new investors in the stock.

In contrast, Seaspan still pays its shareholders a much richer 15.6% yield. But Morgan Stanley believes 2017 is the year Seaspan finally throws in the towel, and announces its own "steep dividend cut in 2017, shifting SSW's valuation away from its yield premium."


Bonus thing: Which of these shippers will survive -- and thrive?

Indeed, Seaspan almost certainly must announce a dividend cut this year. In contrast to Costamare, which at last report was both profitable and generating plenty of free cash flow, Seaspan has reported GAAP losses over the last 12 months, and reported negative free cash flow of $165 million. Morgan Stanley expects to see that cash-burn-rate increase when Q4 results come out, imperiling the company's balance sheet, which already shows $2.1 billion more debt than cash. (By comparison, Costamare is also in a net-debt position, but owes less than $700 million more than it has cash on hand.)

If and when Seaspan announces its dividend cut, Morgan Stanley expects to see the stock underperform. In contrast, Costamare, which cut earlier and deeper and therefore has a head start on its recovery, is likely to outperform the market from here on out.

When you consider how cheap Costamare stock is today -- priced at just seven times earnings, but paying a 7.5% dividend -- and in the opinion of most analysts, likely to post strong earnings growth over its 2016 lows in the next two years, I honestly cannot see how Costamare could do anything but outperform the market from here on out. For this reason, I find myself in agreement with Morgan Stanley today:

Costamare is the container shipping stock to buy, and Seaspan the one to sell.

[R-BgO]

Antwort auf Beitrag Nr.: 54.051.148 von kanthor am 10.01.17 17:13:04

ich habe auch nachgelegt,

allerdings mit den preferreds Serie H;

die bringen eine garantierte Verzinsung von 7,875% -die den commons vorgeht-, was beim aktuellen Kurs von rund 90% auf knapp 9% Rendite rausläuft.


Wie man am Buchstaben H erkennen kann, gibt es inzwischen einen Sack solcher Vorzugsaktien (siehe auch: http://www.seaspancorp.com/ir-dashboard/dividends-tax-info/d…)

bei rund 33 Mio. Stück á 25 USD sind das,

1) rund 825 MUSD Liquidationspräferenz (=Hälfte vom EK) und
2) mit 8% gerechnet 66 MUSD Vorzugsdiva

=> bin gespannt, ob sie bei den Commons die 37,5c durchhalten - und wenn nicht, wieviel davon schon im Kurs steckt

[kanthor]

Hab mir auch vor kurzem eine kleine Position mit einem EK von 9,30 Euro ins Depot gelegt.
Weiß aus erster Hand das die Frachtraten in der letzten Zeit deutlich gestiegen sind. Und man rechnet damit das diese in der nächsten Zeit nicht groß zurück kommen werden. Wenn dies so eintrifft sehe ich gute Chancen das Seaspan im ersten Halbjahr 2017 wieder in Richtung 15 USD geht.

[OhMyGosh]

Antwort auf Beitrag Nr.: 53.605.290 von freddy1989 am 02.11.16 15:00:23

Habe mir gestern mal welche gekauft... todesmutig ins fallende Messer gegriffen.

[freddy1989]

Hier mal was neues zu Seaspan aber die Dividende bleibt trotzdem interessant.

http://www.hansa-online.de/seaspan-schreibt-verluste/?p=5033…

[freddy1989]

Man muss sagen die Dividende kann sich echt sehen lassen nicht schlecht.....

http://mydividends.de/content/seaspan-zahlt-konstante-divide…

[R-BgO]

zahlen aktuell $1,50 Divi p.a.

[R-BgO]

habe mir ein paar Ansichtsstücke geholt

[Nachrichten [wO]]

HONG KONG, CHINA--(Marketwired - Oct. 13, 2015) - Seaspan Corporation (NYSE:SSW) announced today that the Company's Board of Directors has declared cash dividends on its common and preferred shares as follows: …

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