Seaspan Corporation (SSW) owns more than 70 ships that it leases out to corporations. But it appears the company also transports value to income investors. Since 2009, the SSW’s quarterly dividend has grown from 10 cents per share to today’s 31 cents. However, shipping is a cash-intensive business. For this reason, Seaspan recently issued $125 million worth of preferred series E shares with an 8.25 percent yield at par, which helped bring the company to more than $100 million in free cash. And with SSW paying out about $85 million in dividends for the last period, those series E shares are expected to add another $10 million to the payout. Looking ahead, as long as corporations need to ship goods, Seaspan’s a good bet to generate income for investors from that need.
It was a mixed week for U.S. markets, with the Dow Jones down 0.32%, S&P 500 falling 0.13%, but the NASDAQ up 0.46%. Global markets also pulled back, with the MCSI Emerging Markets Index correcting 0.58%.
The big gainer in your Bull Market Alert portfolio was Bank of Ireland (IRE), which jumped 10.16% last week. It is now up 40.74% just in 2014. You booked 64.29% gains in your April $20 call options (IRE140419C00020000<
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