Archive for December, 2008
Genco Shipping leases new Capesize bulk carrier
Genco Shipping and Trading Limited – Press Release.
It is heartening to see Genco Shipping (GNK: 22.52 +0.56 +2.55%) put on a new bulk carrier with Cargill for a minimum 4 year lease at a very nice rate. $65,000 per day! There seems to be quite a disconnect between the rates earned by quality shipping companies [...]
Ashford Hospitality Suspends Dividend
Ashford Hospitality Trust Enhances Liquidity Position Through Strategic Transactions.
It is interesting to see a company dance around a dividend cut in their press release. You can see from the title of the release linked above that Ashford Hospitality (AHT: 5.91 +0.11 +1.90%) went for the euphemism “Enhancing liquidity”. The suspension of the dividend is not [...]
Terra Industries enters distribution agreement for clean Diesel product
Terra Industries: Manufacturers of Urea Ammonium Nitrate, Anhydrous Ammonia and Ammonium Nitrate: News Release.
The press release linked above announces a distribution agreement between Terra Industries (TRA: 46.33 -0.57 -1.22%) and Brenntag North America for the exclusive distribution rights of Terra Industries’ Diesel Emission Fluid (DEF). First, a little background on the use of DEF.
On January [...]
ProShares follows suit – big distributions on inverse funds
Huge Distributions At ProShares – Features.
Shareholders in the various ProShares inverse and double-inverse funds received a pre-Christmas gift of the unpleasant kind. The article linked above from Index Universe lists the cash distributions made by 35 of ProShares ETFs ranging from 4.1% to 44.3% of the previous day’s NAV (December 22). The distributions will be [...]
Aircastle Slashes Dividend
AIRCASTLE – Investor Relations – Press Release.
OUCH! This one caught me by surprise. Aircastle, Ltd. (AYR: 9.73 -0.69 -6.62%) is cutting their dividend from 25¢ to 10¢ for the 4th quarter. I had considered the dividend pretty secure since the company is generating around $1.10 free cash flow per quarter.
I see a couple of reasons [...]
