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Non-Tech : Income Investing
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From: CusterInvestor12/31/2015 10:56:56 AM
3 Recommendations

Recommended By
brehm233
KEN2CWL
MCsweet

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from another mb:

Anyone want an oil shipper?

Didn't think so. 2 words everyone runs from, oil and shipping. The fact is, oil shipping is booming. Low oil prices HELP the shippers.

How about a stock trading at 50% of book, pays a dividend which will be at least 4.4% next year, has an active buyback, and trades at about 4.6X earnings (2016 estimate)?

We continue to enjoy the strongest tanker market this decade mainly due to the low price of oil which has resulted in greater oil demand and reduced bunker costs. This 'double-whammy' effect of higher income and significantly lower costs finds TEN perfectly placed as a prime beneficiary. The continued nervousness seen in the overall financial markets is creating positive arbitrage prospects for well funded companies like TEN as it provides unique opportunities to acquire back stock at steep discounts to fair value," Mr. Nikolas P. Tsakos, President and CEO of TEN stated. "We are always mindful of the controlled use of capital so not to derail our strategic growth nor to destabilize the health of our strong balance sheet. However, we feel that at this particular juncture this share repurchase opportunity is fully justified. With the tanker market forecasted to remain strong and with a 33.0% increase in common stock dividends, TEN offers an attractive proposition to those looking for share price appreciation and growing dividends.

TNP

finance.yahoo.com
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