Go to Their web page and look at their dividend history. They've never cut their dividend, not even during 2008-09 when everything was collapsing.
They didn't cut their dividend when the market crashed in 2009 if thats any indication.
I'm not disputing your strategy on this because I'd like to do that with some of my energy plays right now. But I've been told if I sell one of my energy MLP's and buy another one, I can't take the capital loss, because it would be more like a wash sale due to their similarities. If this is true then that same rule would apply to BDC's.
Interestingly FRO has been moving up lately while most oil related stocks are going down like LINE. With oversupply, investors must be anticipating growing use of tankers for floating storage,
Their dividends have been steady for many years despite the ups and downs of the stock price. Just hold your nose and keep collecting.
I will also. Bought BP when the oil spill occurred around 30 and sold in the 40's. If it goes there again I will buy and wait for the price to go back up plus get a nice dividend while I wait. At 30 that would be an 8% yield, not bad...Not wishing any more pain on current holders,but thats where I am.
If you go to their web page and look at their portfolio, it shows very little exposure to oil and gas, and mostly secured debt.
Looks like a total of 22% down for the last two days in Europe. So combined about what it did yesterday in U.S. I'll take that after the opec announcement. I think this is about as bad as it gets on news so maybe the recovery is near for those that can hold. I sold about half my position yesterday but only to offset some gains for tax purposes, but still holding quite a bit.
I think you are right, but we still have the opec meeting to contend with on Fridays trade, and its anybody's guess what they are going to do. with that being said I bought more today figuring in a few months SDRL stock will be higher.
Chart sure looks like the share price has stabilized. Maybe up from here and those who ran for the hill are gone now (hoping anyway).
I am retiring in a few months and am becoming more of an income investor. I already own a few thousand shares of NMM because its a solid dividend payer. If you look at their dividend history from their web page going back before 2009 till now, they have paid a consistent dividend through the great recession and have even increased it periodically from then till now. Bought more today for the long run income play and not worried so much about the share price at this depressed level.
I was thinking the 5th or 6th then too and might have contributed to some of the losses yesterday. They could sell and buy back in 30 days prior to the ex date
Hoping 25 is the low. Busting through that which I think is not likely and its maybe going to 19. Oil usually does good in a rising rate environment where inflation comes into play, and it looks like 6 to 9 months out that will start happening and perhaps SDRL will do better by then. I'm holding and just collecting that big quarterly "rent" payment while I wait. I own rental houses too but I'm not really concerned what someone thinks they are worth or will be worth later on as long as I get my rent every month. The div might be cut some (or maybe it could go up) in 2016 but that anybody's guess. Folks just a few short months ago we were all loving sdrl! See how things can change in a short peroid of time.These analysts kill me predicting where they think the market let alone where a dividend will be a year and a half out. There are too many unknown variables out there that no one can foresee. When I hear that from an analyst, my first inclination is to think they are full of #$%$ for even thinking they have that much unpredictable insight. So if you are truly a long term income investor just collect your rent and forget about the chatter.