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Seaspan Corporation Message Board

  • whymechi whymechi Jul 2, 2008 11:03 AM Flag

    just mentioned on cnbc

    Some dude just recommended SSW on CNBC and it caught my attention. Good divi and the world will always use shipping containers. With globalization this will only grow. Stock price is low and this is a good entry point. At least that was the gist of his comments.

    Sounds good but the chart really sucks and they have no E in the PE.

    I will watch this one. Any thoughts about SSW's ability to maintain the divi? Any under lying problem I should know?

    Thanks in adavance.

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    • jdfunnell Jul 2, 2008 1:06 PM Flag

      Dividend is safe and, if anything, will increase each year.

      Chart is indeed ugly, but at some point this will bottom. Starting in August, they get one new ship delivered per month through the end of the year. As those get announced, stock should start moving up.

      When they announce 3Q results in October or so, they will probably also announce 2009 dividend rate.

      The no "E" has to do with interest rate swaps, so is a non-issue............Dave

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