Bartx

DryShips Looks Good, Even Without Its Dividends

Hi Debra, I suggest: TAKE 3 on Dryships.

After making sure the company paid out HUGE cancellation fees to its affiliate Cardiff, here's the rest of the story, by Dryships herself:

"The company said it is trying to secure waivers or amendments to the contracts in order to postpone payments, but warned that they may not be able to push them off.

Even if the company is able to change its debt contracts, DryShips said the new terms might limit its ability to pay dividends, get more debt or make other capital investments.

DryShips warned that if vessel rates -- already teetering around record lows -- get even worse, it may try to restructure its debt.

If the shipper defaults on its loans, its shares could lost most or all of their value, the company warned.

DryShips also on Wednesday agreed to sell up to $500 million of its shares. The offering will allow the company to sell shares at any time."

Good work gall!