SSW - Seaspan Preferred Shares: The 7.8% Yield Is Worth Considering
If it’s steady high-income you’re looking for, Seaspan’s series I preferred shares (SSW.PI) are worth considering. You shouldn’t expect any price appreciation for these shares (they’ll continue to hover right around $25), but the big quarterly dividend payments are steady and supported by a strong growing business (Seaspan’s fleet has grown dramatically while simultaneously increasing operational efficiency), strong financials (access to cash on favorable terms) and favorable industry dynamics (demand for Seaspan’s differentiated fleet). Further, the 7.8% dividend yield will go a lot farther than most other income investments, and it’ll do so