Genco Shipping & Trading Limited Enhances Dividend Policy to Increase Cash Distributable to Shareholders [Yahoo! Finance]
Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (GNK)
Last genco shipping & trading limited ordinary shares new (marshall islands) earnings: 2/25 04:30 pm
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gencoshipping.com
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Source: Yahoo! Finance
Limited (NYSE:GNK) (“Genco” or the “Company”), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today announced the removal of the drydocking capex line item from its formula used to calculate its quarterly dividend. This will increase the amount of cash available for distribution to shareholders beginning in the third quarter of 2024. The amount available for quarterly dividends is to be calculated based on the following updated formula, commencing in Q3 2024: Dividend calculation Net revenue Less: operating expenses Operating cash flow Less: voluntary quarterly reserve Cash flow distributable as dividends The voluntary quarterly reserve for the third quarter of 2024 under the Company's dividend formula is $19.50 million, which remains fully within the Company's discretion. We plan to continue to review the voluntary reserve to further enhance shareholder value over the long-term. For the balance of 2024 and 2025,
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News
- Genco's Unique Dividend Structure May Hold Promise For Income Investors [Seeking Alpha]Seeking Alpha
- Genco Shipping & Trading Limited Enhances Dividend Policy to Increase Cash Distributable to ShareholdersGlobeNewswire
- Genco Shipping & Trading Limited (NYSE: GNK) is now covered by analysts at Deutsche Bank Aktiengesellschaft. They set a "buy" rating and a $22.00 price target on the stock.MarketBeat
- Genco Shipping & Trading's (NYSE:GNK) Returns On Capital Are Heading Higher [Yahoo! Finance]Yahoo! Finance
- Some May Be Optimistic About Genco Shipping & Trading's (NYSE:GNK) Earnings [Yahoo! Finance]Yahoo! Finance
GNK
Earnings
- 8/7/24 - Beat
GNK
Sec Filings
- 8/28/24 - Form 4
- 8/28/24 - Form 4
- 8/28/24 - Form 4
- GNK's page on the SEC website