Genco Shipping & Trading Limited (NYSE:GNK) Declares Quarterly Dividend of $0.35

Genco Shipping & Trading Limited (NYSE:GNK) declared a quarterly dividend on Wednesday, May 6th. Investors of record on Monday, May 18th will be given a dividend of 0.35 per share by the shipping company on Tuesday, May 26th. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Monday, May 18th.

Genco Shipping & Trading has increased its dividend payment by an average of 0.3%per year over the last three years. Genco Shipping & Trading has a payout ratio of 165.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Genco Shipping & Trading to earn $0.90 per share next year, which means the company may not be able to cover its $2.00 annual dividend with an expected future payout ratio of 222.2%.

Genco Shipping & Trading Trading Up 0.9%

GNK opened at $25.72 on Thursday. Genco Shipping & Trading has a 52 week low of $12.66 and a 52 week high of $26.46. The company has a quick ratio of 1.84, a current ratio of 2.39 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $23.18 and a 200-day simple moving average of $20.43. The firm has a market cap of $1.12 billion, a P/E ratio of -233.80, a P/E/G ratio of 5.03 and a beta of 0.97.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings results on Wednesday, May 6th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.19. The business had revenue of $114.43 million for the quarter, compared to analysts’ expectations of $65.73 million. Genco Shipping & Trading had a negative net margin of 1.28% and a negative return on equity of 0.12%. The business’s quarterly revenue was up 60.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.28) earnings per share. On average, equities analysts expect that Genco Shipping & Trading will post 1.31 earnings per share for the current year.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited is a leading global owner and operator of drybulk vessels, providing seaborne transportation services for major commodities such as iron ore, coal, grain and fertilizers. The company’s fleet comprises Capesize, Panamax and Supramax vessels, which are chartered to a broad base of international charterers under both spot and period contracts. Genco’s focus on modern, fuel-efficient tonnage supports reliable cargo delivery across a variety of trade routes and market conditions.

In addition to vessel ownership and operation, Genco offers ship management, maintenance and technical support services designed to maximize fleet performance and safety.