I'm also new to the shipping stocks. The high yield attracted me. I've been very successful investing in energy MLP's and wanted a way to diversify. I own EGLE before Barrons, DSX before barrons, GMR, and Qmar, so far. As a previous poster suggested, everone who is interested in this sector should do their own due diligence. A good starting place for the above companies would be the jefferies conference presentations for each company.
I was initially drawn to Quintana because it kept showing up in the Wall Street Journel under largest individual insider purchases. That is always a great sign. Go to Qmar on Yahoo and look under insider transactions. You will find 7 purchases in the last 2 1/2 weeks in the open market.
You will see the Name Robertson Corbin III Jr. Mr Corbin, is the president and Chairman of NRP. Natural resource Partners,one of the largest coal owners in the US aside from the Feds.
The plan according to the president of Quintana is to use the "sponsor" of NRP to fill one of the two new Capes that they just bought that does not have a time contract. This is mentioned in the Jefferies presentation.
The dividend policy is located on the corporate Website for Quintana. It is to pay 65%, not 60% as someone else said. This strategy is in place so that they can use retained earnings to fund the accretive aquisitions that they plan in the future.
The IPO was inially priced to come at 14-16 then 12-14, finally because of the crappy market 11.50, around the same price the insiders have been buying.
The current dividend is for the period through June 30. They started operations April 12th, they did not have the fleet yet. That dividend is meaningless.
These are the factors I used when I bought the stock.