Genco Shipping & Trading Limited (GNK) to Issue Quarterly Dividend of $0.50 on March 18th

Genco Shipping & Trading Limited (NYSE:GNK) declared a quarterly dividend on Tuesday, February 17th. Stockholders of record on Wednesday, March 11th will be given a dividend of 0.50 per share by the shipping company on Wednesday, March 18th. This represents a c) annualized dividend and a dividend yield of 8.6%. The ex-dividend date is Wednesday, March 11th. This is a 233.3% increase from Genco Shipping & Trading’s previous quarterly dividend of $0.15.

Genco Shipping & Trading has raised its dividend by an average of 0.3%per year over the last three years. Genco Shipping & Trading has a payout ratio of 49.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Genco Shipping & Trading to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 53.1%.

Genco Shipping & Trading Price Performance

Shares of GNK stock opened at $23.35 on Thursday. The stock’s 50-day moving average is $19.72 and its 200 day moving average is $18.18. Genco Shipping & Trading has a 1-year low of $11.20 and a 1-year high of $23.68. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.36 and a quick ratio of 1.98. The company has a market cap of $1.01 billion, a P/E ratio of -212.21, a PEG ratio of 6.08 and a beta of 1.21.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings results on Tuesday, February 17th. The shipping company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. Genco Shipping & Trading had a negative net margin of 1.28% and a negative return on equity of 0.12%. The business had revenue of $109.92 million during the quarter, compared to analyst estimates of $78.52 million. During the same period in the prior year, the firm posted $0.29 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. Research analysts predict that Genco Shipping & Trading will post 0.48 earnings per share for the current fiscal year.

About Genco Shipping & Trading

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.