On 12/28/09, I sold 5 DSX Mar10 17.50 Covered Calls in 2 IRA accounts for a net deposit of $151.23.  My basis for these DSX shares is now 27.30 for 300 shares and 14.22 for 2oo shares, excluding dividends received.

DSX last paid dividends in 4th quarter of 2008.  It had been increasing its dividends each quarter with the last one being .95.  I am hopeful and expect that dividends will resume as the world economy recovers.  In the mean time I will continue to sell Covered Calls to “make my own dividend” .

To some degree DSX is an extension of Warren Buffet’s purchasing railroads.  If the railroads are going to move coal, foreign steel and grains then there needs to be dry bulk shippers to move those same products across the oceans.  That is what DSX does.