After the last conference call, I adjusted my expectation to not see a dividend announced until 2Q 2012. Dividend will probably start out at <= 10 cents a quarter. Disappointing considering my prior hopes, but I think this is very reasonable and still a good medium term hold.
to be sure, it has not gone without notice that GSL stock is pricing more favorably, and its back on the screen.
the dividend is just a matter of time.....probably by year's end, and I would expect and initial payout of about 0.05/sh per quarter, but progressive depending on market conditions.
Container rates have recovered reasonably, and there is not an unmanageable supply of newbuilds.
SSW also is worth a close watch.
Finally, Id would also put NNA on the list, though its about chemical and products.
The difficulty with GSL and NNA is that they are not as "investable" (as SSW) given that the thin trading makes for difficult share pricing on buy and sell sides. Also, despite the dividends that will be growing in these names, few funds will buy in given the small float and low price.
upward, about the same as you.Quantity/ avg. price. So earnings cc coming up in a couple weeks. Expect a clearer road to the Zimm finance and expect a div. reinstate q4. The Valueline article posted here couple weeks ago had a high div. .72. Not expecting that but still .50 to .60 seems doable. But after that is a question? Will GSL be a happy ATM machine or expand the fleet with drop downs and cap raise.
Won't stop until our big seller has finished liquidating (and for those counting, we did see 4!!). Edge's sagacity is spot on, again. Thinly traded vehicles are ripe and prone to huge volatility when big players decide to take their football home. My bet says Deprince Race is out with a vengeance. Clearly agitated at the lack of divy from Q2 CC and the signal that none would be forthcoming with any immediacy. This too shall pass. I fully agree with Edge as well that those with capital are looking at another tremendous entry point. My GSL stake is still deep in the black after the Soros exit so I am in hold and wait mode. Almost jumped in again at 4,but will watch from the sidelines for now. GLTA as we weather this storm. Keep the faith.
I bought 500 yesterday at 4.42..
Maybe double down at 3.85 that about all the buying I can do here.
4$ is a important closing level with the margin equity of this stock changing at that level which could create even more selling pressure IMO
Anyone want to fathom a guess on who the big seller is? 425K share volume 5x+ average with clearly no regard for exit price. Blood bath city today for me in GSL (have Rocky stop laughing Cours....). Modestly offset by some AAPL option contracts bought on their last dip last month (now up 50%) and my other speculative play, WPX on the Canadian exchange. Let's hope tomorrow brings back more buyers. IBM had good numbers as did Wynn this evening. If our politicians could get together on the debt ceiling, that would help too.
I feel for ya, as I know you have a ton of GSL. Way more than I risk or afford. For me, GSL is a one trick pony to be traded on the 'swings' in investor sentiment, while minimizing vested time exposed.
I could not currently venture a guess as to the ID of the seller, but I am watching to discern the apex of its probable cessation.