This stock recently suspended what would have been a 200% dividend. This is based on severely lower income negotiated to keep the ships in service during this downturn, one renegotiation was for 35 months. The stock recently traded about $25 and is now $1.39.
The idea is that there is a hopefully surviveable company that if it returns to last years form in 2 or 3 years will be worth 10 to 15 times present value and pay dividends of 200% or more based on current investment.
They only sail second hand ships so should not have the capitol overheads of some other companies.
$1.39 (05/15/09)
