5 Best Shipping Stocks That Pay Dividends

2. Danaos Corporation (NYSE:DAC)

Number of Hedge Fund Holders: 20

Dividend Yield as of June 10, 2022: 3.99%

Danaos Corporation (NYSE:DAC) is another Greek shipping company that is headquartered in Piraeus. It primarily focuses on operating containerships and provides its services to companies in Australia, Europe, Asia, and the United States of America.

Danaos Corporation (NYSE:DAC) announced in April 2022 that it had placed an order for 7,200 twenty-foot equivalents (TEU) containerships that will be built according to modern standards. This marks the company’s optimism in the shipping industry recovering from the devastating blow of the coronavirus. Citi increased its price target to $115 from $90 in February 2022, stating that strong charting activity is helping the company.

For its fiscal first quarter results, Danaos Corporation (NYSE:DAC) earned $229 million in revenue and $11.36 in non-GAAP EPS, boosting its ability to pay dividends. The firm’s dividend yield stood at 3.99% as of June 10, 2022, and 20 out of 912 hedge funds part of Insider Monkey’s Q1 2022 research had bought its shares.

Danaos Corporation (NYSE:DAC)’s largest investor is Robert Bishop’s Impala Asset Management which owns 769,471 shares that are worth $78 million.