If you are an income investor and you are predicting a global recovery, for some diversification from electric and gas utility stocks, you might want to step on board some shipping stocks. There are two types of shippers, the liquid shippers which transport crude oil, petroleum products, and liquefied natural gas, and the dry bulk shippers, which transport iron ore, coal, grain, minerals, fertilizers, and other non-liquid items.
The shipping stocks generate some fairly high dividends. Eighteen yield over 3.5%. For example, Teekay LNG Partners (TGP) is a liquid shipper that yields 9.2%. Horizon Lines, Inc. (HRZ) is a dry bulk shipper with an 8.2% yield. Another high yield dry bulk shipper is Safe Bulkers, Inc. (SB) paying 7.1%.
For a free Excel database of over 20 high dividend shipping stocks, go to WallStreetNewsNetwork.com. A few of these stocks yield more than 10%, but I think those yields are probably unsustainable.
Author does not own any of the above.