Income shares to buy - wrap yourself in British Polythene!

With share prices still at very low levels. There are some interesting high yielding shares out there. The big concern is how sustainable the dividend is. Will the companies dividends be cut as company profits come under strain and try to rebuild their over leveraged balance sheets.

In my own portfolio I have a number of high yielding shares. One of the income generating shares I'm a fan of is British Polythene. Its not sexy but old BPI has been banging out solid dividends for years. The share price currently is just shy of £2 and the most recent interim statement talked about profits being comfortably ahead of expectations.

The shares currently trade on a projected yield of 6% with a projected dividend of 11.25p for the year. This is over twice covered by projected profits. If the economy does start to turn up then there is every chance that dividends will also be increase pushing the adequate yield even higher. Recent dividend payments have been as high as 22p for several years which at the current price would generate a double figure yield for income seeking investors.