Investment ideas and financial education
Today I plan to cover a Greek tanker name that has endured a couple of very dilutive capital increases since the rates started dropping and that has cut its USD0.15 quarterly dividend to 0.05, but without cancelling it as many others have been forced to. Current yield is 5.4%, but the stock is a deleveraging story rather than a dividend play. Tsakos Energy Navigation, 39% owned by the Tsakos family, certainly offers upside with its net debt/EBITDA ratio (2012) above 10 (scary, isn’t it?) – if it makes it through. 4Q12 results were released today, and they came well ahead of expectations (and share jumped (+7.6%). For more details, full report is here.