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Teacherman1 (62.19)

DCIX- Finally, the veil has been lifted.

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November 22, 2011 – Comments (3) | RELATED TICKERS: DCIX

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.  

http://finance.yahoo.com/news/Diana-Containerships-Inc-pz-4163366692.html?x=0&l=1

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.

3 Comments – Post Your Own

#1) On November 22, 2011 at 11:26 AM, broadwaynewyork (< 20) wrote:

Well done, Teacherman1.

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#2) On November 23, 2011 at 8:44 PM, Teacherman1 (62.19) wrote:

Correction. The equity to debt ratio is 100 to1, instead of the ratio of 50 to 1 that I indicated.

Debt is $2M+ and equity is $200M+.

There is no rational reason why this is going down a little, rather than up, but look at it as a "gift opportunity".

JMO and worth exactly what I am charging for it.

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#3) On November 24, 2011 at 6:40 AM, mhy729 (34.10) wrote:

Apart from the general market skittishness, there was an analyst downgrade of DCIX which may be contributing to the selling pressure.  I am considering opening a small position in this; thanks for bringing it to our attention, and good luck!

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