Today I bought the 20th position for the dividend machine:
46 shares of Textainer Group Holdings Ltd (TGH) were bought for $ 31.80 per share including transaction fees
Textainer buys, sells and leases (sea) containers. An excerpt from their website: “Textainer has operated since 1979 and is the world’s largest lessor of intermodal containers based on fleet size with a total of more than 2.0 million containers representing more than 3.0 million TEU in our owned and managed fleet. We lease containers to over 400 shipping lines and other lessees. Our fleet consists of standard dry freight, dry freight specials, and refrigerated intermodal containers. We are one of the largest purchasers of new and used containers with annual capital expenditure often exceeding $800 million. We believe we are also the largest seller of used containers, selling up to 100,000 containers per year to more than 1,100 customers. We provide our services via a network of 13 offices and 400 depots worldwide..”
Currently Textainer pays a quarterly dividend of $0.47 per share. This means an initial yield of 5,91%, which is very nice considering the fact that Textainer raises their dividends quite often as you can see below.
Other financial metrics I liked before buying TGH :
Payout ratio: : 60%
Price / Earnings ratio : 10,18