5 Best Shipping Stocks That Pay Dividends

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In this article, we will take a look at the five shipping stocks that pay dividends. If you want to read our analysis of the shipping industry, head over to 9 Best Shipping Stocks That Pay Dividends.

5. Golden Ocean Group Limited (NASDAQ:GOGL)

Number of Hedge Fund Holders: 15

Dividend Yield as of June 10, 2022: 14.58%

Golden Ocean Group Limited (NASDAQ:GOGL) is a dry bulk shipping vessel operator that is headquartered in Bermuda. The company owns some of the largest vessels in the world, belonging to the Ultramax category. It transports goods such as commodities and operates in the spot and charter markets.

Golden Ocean Group Limited (NASDAQ:GOGL) posted $265 million in revenue and $0.62 in GAAP EPS for its first quarter earnings, in a strong set of results that saw it beat analyst estimates for both the metrics. H.C. Wainwright increased the company’s share price target to $18 from $13 in May 2022, outlining that capesize freight rates will help the company.

As of June 10, 2022, Golden Ocean Group Limited (NASDAQ:GOGL) had a dividend yield of 14.58%, one of the highest on our list. 15 out of the 912 hedge funds part of Insider Monkey’s Q1 2022 survey had bought the company’s shares.

Golden Ocean Group Limited (NASDAQ:GOGL)’s largest investor is Jim Simons’s Renaissance Technologies which owns 3.6 million shares that are worth $45 million.


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