DCIX- Finally, the veil has been lifted.
DCIX reported Q3 earnings this morning before the market opened, and they did even better than expected.
They have declared a quarterly dividend of $0.15 per share, for an annualized dividend of $0.60, or about 12% at yesterdays closing price of just under $5.00.
When coupled with their very strong balance sheet ($48M cash, equity about 50 times debt, and $160M worth of fully owned vessels), this is a great buy for investors looking for a "longer term" hold.
This is a conservatively run company, which has the same management as DSX.
Rather than post the full details, here is a link from the Yahoo Finance page, from Globe Newswire. with all of the relevant information.
At $7.50 per share, they would still yield 8%, and this is the price that the "underwriters" got in at.
It is going up ( as would be expected ), but there is still time to take advantage of this very good opportunity for both a good yield, and share price appreciation.
JMO and worth exactly what I am charging for it.