In this article, we discuss the 5 best shipping stocks that pay dividends. If you want to read our detailed analysis of dividend investing, go directly to the 10 Best Shipping Stocks that Pay Dividends.
At Insider Monkey we leave no stone unturned when looking for the next great investment idea. For example, advertising technology one of the fastest growing industries right now, so we are checking out stock pitches like this under-the-radar adtech stock that can deliver 10x gains. We go through lists like the 10 best hydrogen fuel cell stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Keeping this in mind, let’s take a look at the best shipping stocks that pay dividends:
5. SFL Corporation Ltd. (NYSE: SFL)
Dividend Yield: 6.94%
Number of Hedge Fund Holders: 14
SFL Corporation Ltd. (NYSE: SFL) is a Bermuda-based vessel operator that was founded in 2003 and was formerly known as Ship Finance International Limited. It is ranked fifth on our list of 10 best shipping stocks that pay dividends. The chartering company has a fleet of more than 80 bulkers, tankers, container ships, and offshore assets. Aside from oil and chemical transportation, the company also operates in car and drilling rigs transportation as well as dry bulk shipments. On May 12, the company paid its shareholders its 69th consecutive quarterly dividend of $0.15 per share.
The company has a market cap of $1.1 billion. The company’s total operating revenues in the first quarter of 2021 were $109 million, down from $115 million in the previous quarter. SFL Corporation Ltd. earned $31.5 million in net income for the first quarter or $0.27 in earnings per share. Year to date, the stock has returned 38% to investors.
Out of the hedge funds being tracked by Insider Monkey, Los Angeles-based investment firm Oaktree Capital Management is a leading shareholder in SFL Corporation Ltd. (NYSE: SFL) with over 12 million shares worth more than $12.9 million.