A New High-Dividend Stock Yielding 10%-Plus, Will Grow Dividends By 10% And EBITDA By 18%

As you may have noticed from many of our previous articles, we're big fans of long-term contracts which lock in cash flow to support distributions and distribution growth. This week's article covers a company which went public in November 2014, and not only operates long-term charters but also has the rights to acquire more of these long-term dropdown assets from its parent company.

Navios Maritime Midstream Partners L.P. (NYSE:NAP) is a publicly listed master limited partnership. NAP owns and operates very large crude oil tankers, VLCC's, under long-term employment contracts with international oil companies, refiners and large vessel operators. Navios Midstream's Sponsor is Navios Maritime Acquisition Corporation (NYSE:NNA) which currently owns a 55.5% interest in Navios Midstream as well as a 2.0% interest through the general partner which Navios Maritime Acquisition Corporation owns and controls.

Source: Seeking Alpha

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