Genco Shipping raises dividend by 350% to $0.67

• Genco Shipping (NYSE:GNK) declares $0.67/share quarterly dividend, 346.7% increase from prior dividend of $0.15.
• Forward yield 12.46%
• Payable March 17; for shareholders of record March 10; ex-div March 9.
• As part of Genco’s value strategy, the Board of Directors adopted a new quarterly dividend policy for dividends payable commencing in the first quarter of 2022 in respect to the Company’s financial results for the fourth quarter of 2021. Under the new quarterly dividend policy, the amount available for quarterly dividends is to be calculated based on the following formula, which includes the Q4 2021 dividend calculation and estimated amounts for calculation of the dividend for the first quarter of 2022:
• See GNK Dividend Scorecard, Yield Chart, & Dividend Growth.

Comments

[fisherick]

Good ceo interview on cnbc Asia last week....Post Ukraine invasion. Link on GNK website.

[Sacdukeman]

Looking forward to it - added a tad more yesterday!

[pismorich]

This is Fake News! as I received the same dividend 3 months ago.. Or Old News.

[Joeri van der Sman]

The Q4 quarter was the last one with an outsized debt paydown, future dividends should be much higher (If BDI cooperates).

[SteveL, cpa]

@Joeri van der Sman I project the dividend at $0.83 on revenues of $130m and avg rate of $24.2k. fwiw.