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Subject:  PSN on toronto exchange, 7.6% div Date:  8/31/2012  12:04 PM
Author:  blacktreechaser Number:  34355 of 36785

Below is a quote from the article, and then a link to the article.

"the company’s monthly dividend of $0.09 is bound to start attracting interest. It works out to an annual yield of 7.3%, which tops the average current junk bond yield of 6.7%.

The yield is notably safer, too. Poseidon’s business is high margin and predictable. In fact, over 50% of the company’s fleet is under long-term contracts through 2012. But it only needs to rent out 25% of the fleet to fund the dividend payments.

In terms of a dividend payout ratio, Poseidon checks-in at a conservative 50%"
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