5 Best Dividend Stocks of 2022

1. International Seaways, Inc. (NYSE:INSW)

Year-to-date Returns as of December 12: 162%

International Seaways, Inc. (NYSE:INSW) is one of the world’s largest tanker companies. It specializes in the transportation of crude oil and petroleum products. The company initiated its dividend policy in 2020 and has raised its payouts once since then. It currently pays a quarterly dividend of $0.12 per share and has a dividend yield of 1.20%, as recorded on December 12.

International Seaways, Inc. (NYSE:INSW) was a part of 25 hedge fund portfolios in Q3 2022, up from 19 in the previous quarter, as per Insider Monkey’s database. The stakes owned by these funds have a total value of over $176.4 million.

ClearBridge Investments mentioned International Seaways, Inc. (NYSE:INSW) in its Q2 2022 investor letter. Here is what the firm has to say:

“The Strategy also benefited from our holding in International Seaways, Inc. (NYSE:INSW), in the energy sector, which owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products. The company benefited during the quarter as a result of tightness in the oil market, particularly in Europe, as low global inventories and high demand have spurred greater need for transportation between states that are net energy producers with those that are net energy consumers.

Additionally, economic sanctions placed on Russia and its companies have reduced the global number of oil and petroleum transportation ships, resulting in greater demand for International Seaways’s services and allowing it to increase its shipping rates, to the benefit of its bottom line. We continue to view the company as a strong value play, as decades of underinvestment in maritime shipping has resulted in many ships approaching a forced retirement date with no obvious replacements.

As the number of available ships declines, particularly specialized ships such as International Seaways’s energy transports, it should help to bolster the company’s pricing and negotiation power with its customers. We believe the company’s shares are currently trading at substantially below the current book value of the company’s assets, and as a result we continue to have high conviction in International Seaways as a long-term value creation opportunity.”

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