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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Ditchdigger who wrote (48061)	5/24/2012 2:36:51 PM
From: E_K_S	Respond to of 78717

Re: Ship Finance International Limited (SFL) UPDATE 1-Ship Finance 1st-qtr profit rises reuters.com * Q1 EPS $0.49 vs $0.38 a year ago * Q1 charter rev down 4 pct to $186 mln May 24 (Reuters) - Ship Finance International Ltd, which owns and operates a fleet of ship, reported a rise in first-quarter profit on a new cash-sweep agreement with tanker firm Frontline Ltd .The company also raised its quarterly dividend by 30 percent to 39 cents per share.January-March net income rose to $39 million, or 49 cents per share, from $30 million, or 38 cents a share, a year earlier.Analysts on average were expecting earnings of 40 cents per share on revenue of $116.1 million, according to Thomson Reuters I/B/E/S.The company accumulated $13.6 million, or $0.17 per share, in cash sweep from Frontline. -------------------------------------------- Their new Frontline Agreement allows SFL to have a higher profit sharing arrangement (they call it a cash sweep agreement). In any case, when FRO does well, SFL gets more money. Since I have a very low cost basis on quite a few shares, I will start selling some August $15 Calls to help my overall return. Stock goes x-dividend around June 7th for $0.39/share. EKS