Covered four times over — but 0.80% is growth, not income. A $0.45 quarterly dividend at a 25.28% trailing payout, with 22 years of growth behind it. Q2 2026 net income rose 40.7% year over year, and the freight cycle is the story — 0.80% pays for patience, not for income.
Key risk: Freight demand is cyclical — a downturn hits volumes and the rate's growth, not just the price.
Changes if: The payout rises past ~50% or the growth streak breaks.
- ✓Covered by earnings 25.28% trailing payout, per MarketBeat.
- ✓Growth record 22 years of growth; 10.26% 5-year growth.
- !Thin yield 0.80% at the Oct 23 close — a grower, not income.
What this grade doesn't say: It screens the dividend only — covered, real, compounding. It says nothing about valuation or price: a well-covered payer can still be overpriced, and its price can still fall.