Genco Shipping: 12% Yield, Low Debt, Very Strong Earnings

Summary

  • GNK has a new dividend policy - its forward yield is 12.40%.
  • Management has paid down significant debt - Net Debt/EBITDA is only 0.51X, interest expense dropped 50% in Q1 2022.
  • Q1 2022 EBITDA rose 181%, net income grew ~20X, revenue rose 46%.
  • GNK had its highest shipping rates since 2010 in Q1 2022.
  • Looking for more investing ideas like this one? Get them exclusively at Hidden Dividend Stocks Plus. Learn More »
Aerial view of Large Cargo Ship Vessel in transit.

bfk92/E+ via Getty Images

Looking to profit from the global supply chain logjam? The volatile Baltic Dry Index, which measures the relationship between the supply of large super bulk cargo ships (across 3 different sizes), and the market demand to utilize the ships and their trade routes, has been

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This article was written by

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Robert Hauver, MBA, aka “Double Dividend Stocks” was VP of Finance for an industry-leading corporation for 18 years and has been investing for more than 30 years. He focuses on undercovered and undervalued income vehicles and he leads the investing group Hidden Dividend Stocks Plus.

With Hidden Dividend Stocks Plus he scours the world's markets to find solid income opportunities with dividend yields ranging from 5% to 10% or more, backed by strong earnings. Features include: a portfolio with up to 40 holdings at a time including links to associated articles, a dividend calendar, weekly research articles, exclusive ideas, and trade alerts. Learn More.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of GNK either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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