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General Maritime Announces Dividend Policy, Picks up Premium
In what we can only assume is an effort to drive up the General Maritime share price in advance of Frontline’s potentially hostile take over, General Maritime has adopted a dividend policy. The play here is that dividend yield paying stocks like Knightsbridge and NAT are being valued on a multiple of dividends, which is significantly higher than the tanker companies that pay small dividends (less than 5 percent) or no dividends at all. The chart on page 2 illustrates this phenomenon
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Tags: · Cantor Fitzgerald, Dahlman Rose & Co., Douglas Mavrinac, Frontline, General Maritime, Harvey Stober, Jeff Pribor, Jefferies, Knightsbridge, Magnus Fyhr, Mark MacLean, Morgan Stanley, NAT, Natasha Boyden, Ole Slorer, Peter Georgiopoulos
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