High-yield/macroeconomics (fka YIELD)

[shortsinthesand]

Picked up 300 shares of ONAV today!

Omega Navigation Enterprises, Inc. Declares Quarterly Cash Dividend of $0.50 per Common Share
Monday February 11, 8:30 am ET


http://biz.yahoo.com/iw/080211/0359748.html

PIRAEUS, GREECE--(MARKET WIRE)--Feb 11, 2008 -- Omega Navigation Enterprises, Inc. (NasdaqGM:ONAV - News) (SGX: ONAV50), a provider of global marine transportation services focusing on product tankers, announced today that its Board of Directors declared a quarterly cash dividend with respect to the fourth quarter of 2007 of $0.50 per common share payable March 3, 2008 to stockholders of record on February 21, 2008. This is the seventh consecutive dividend of $0.50 per share paid to investors since the Company went public in April 2006.

About Omega Navigation Enterprises, Inc.

Omega Navigation Enterprises, Inc. is an international provider of global marine transportation services through the ownership and operation of eight double hull product tankers. The current fleet includes eight double hull product tankers with a carrying capacity of 512,358 dwt. These eight product tankers are chartered out under three-year period time charters. Furthermore, the company also announced the signing of shipbuilding contracts to construct and acquire five newbuilding double hull Handymax product tankers each with a capacity of 37,000 dwt scheduled for delivery between March 2010 and early in 2011. With the addition of these five vessels, the Omega fleet will expand to 13 product tankers with a total deadweight capacity of 697,358 tons.

The Company was incorporated in the Marshall Islands in February 2005. Its principal executive offices are located in Piraeus, Greece and it also maintains an office in the United States.

Omega Navigation's Class A common shares are traded on the NASDAQ National Market under the symbol "ONAV" and are also listed on the Singapore Exchange Securities Trading Limited under the symbol "ONAV 50."