Box Ships Inc. (TEU) Q2 2012 Earnings Call August 2, 2012, 10:00 am ET Executives Michael Mason - VP, Allen & Caron, Inc. IR Robert Perri - CFO Michael Bodouroglou - Chairman, President & CEO Analysts Chris Snyder - Sidoti & Company Natasha Boyden - Global Hunter PresentationOperator
Good morning and welcome to the Box Ships Incorporated second quarter and six months ended June 30, 2012 results conference call. All participants will be in listen-only mode. (Operator Instructions) After today's presentation there will be an opportunity to ask questions. (Operator Instructions) Please note this event is being recorded. I would now like to turn the conference over to Mr. Michael Mason of Allen & Caron, Investor Relations. Please go ahead sir. Michael Mason Thank you. Good morning and welcome to the Box Ships’ investor conference call to discuss the financial results for the second quarter ended June 30, 2012. I am Michael Mason of Allen & Caron Investor Relations. Many of you received a copy of the press release; it was released yesterday August 1st after the close of the market. If you did not received a copy of the release it is posted on Box Ships’ website and in the client section of our website. You can call our office in New York at 212-691-8087 and we will email to you right away. It is also posted on Yahoo! Finance and other internet sites. This call is being broadcast live over the Internet and maybe accessed on the company's website at www.box-shifts.com. A replay of the call will be available through August 9th and maybe accessed from North America by calling 877-344-7529 and entering conference number 10016835. International callers should dial 412-317-0088. A replay of the webcast will be available immediately following the call and will continue for seven days.
In trading on Wednesday, shares of Box Ships Inc's 9.00% Series C Cumulative Redeemable Perpetual Preferred Shares were yielding above the 12% mark based on its quarterly dividend (annualized to $2.25), with shares changing hands as low as $18.55 on the day. This compares to an average yield of 9.96% in the "Shipping" preferred stock category, according to Preferred Stock Channel.