Wednesday, May 14, 2008

Diana Shipping (DSX) Increases Dividend 41%

Diana Shipping (DSX) declared a cash dividend on its common stock of $0.85 per share up from $0.60 last quarter. The dividend is a 41% increase over the past quarter and will be paid on June 5th to shareholders of record as of May 28th. DSX, a Marshall Islands company is a global shipping company specializing in transporting dry bulk cargoes, including commodities such as iron ore, coal, grain and other materials along worldwide shipping routes.

I started purchasing shares of DSX in 2006 at around $16 a share. I liked the stock because of the increased needs of raw materials of China and India and high dividend yield of around 8%. This stock is very volatile and should not be bought by conservative dividend investors. In the last six months, the stock has gone up over $45 a share and come back down to the mid $20's and back over $35 today. This stock has done well for me but I am sure many people bought the stock high and sold when it dropped quickly after hitting $45.

I will continue to ride the high seas with DSX. I just need to find a way to get to their next annual meeting in Athens.

Here is my review of the stock from 7/15/07. Diana Shipping (DSX): Has the Ship Left Port?

7 comments:

Dividend Growth Investor said...

This stock has offered a pretty wild ride. At what point do you plan on selling it?

As for BUD, i still think it is prices attractively. I expect a raise by the end of July.

Div Guy said...

I will look to sell some shares if the stock goes back over $40. I will keep at least 100 shares until the end of the year. I will see how their prospects look towards the end of the year and see if I want to keep it long term. I think I will buy a few shares of BUD and ABT tomorrow. I look foward to your review on ACAS and KMP.

Dividend Growth Investor said...

ACAS is up. KMP will be on monday. They are all great dividend companies.

Div Guy said...

ACAS and KMP are keepers. DSX has been on a tear. The stock is up over 38% in the past month. I don't like for my stocks to go up that quickly as it starts to scare me. I will have to keep an eye out and look to sell some shares.

Dividend Growth Investor - Carnivals, Festivals and Blogs said...

..[One of DivGuy's stocks, Diana Shipping (DSX) Increased its Dividend by 41%. This is one of the few dividend blogs which are updated regularly]..

passivefamilyincome said...

I like Diana Shipping as well, but never bought any. Have you ever looked at any of the oil shippers like FRO? I bought some about two months ago, just in time to see a $20 jump.

PENNY STOCK INVESTMENTS said...

Great company and outstanding dividend.