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GNK Stock News Image - seekingalpha.com

Post-COVID, dry bulk shipping saw growth driven by energy demand recovery and a limited vessel order book, though market sentiment has weakened due to China's slowing demand for steel and iron. Genco has focused on reducing debt and maintaining dividends, making it resilient to market volatility with low leverage and strong capital management. Future performance depends on China's stimulus; strong stimulus could boost the freight market, while insufficient or delayed action may lead to falling asset values and substantially impact GNK's share price.

seekingalpha.com 2024 Oct 10
GNK Stock News Image - globenewswire.com

NEW YORK, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE:GNK) (“Genco” or the “Company”), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, has agreed to acquire a 2016-built 180,000 dwt high-specification Capesize vessel for a purchase price of $47.5 million.

globenewswire.com 2024 Oct 07
GNK Stock News Image - benzinga.com

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.

benzinga.com 2024 Sep 23
GNK Stock News Image - seekingalpha.com

Genco Shipping & Trading Limited offers an 8.18% dividend yield tied to excess quarterly cash flow, making it attractive for income investors despite volatility. Genco operates a high-quality fleet in a thriving drybulk market, with significant earnings growth expected this year due to higher rates. Despite competitive pressures, Genco's strategic fleet renewal and strong Q2 2024 results position it well for future growth and shareholder value.

seekingalpha.com 2024 Sep 10
GNK Stock News Image - globenewswire.com

NEW YORK, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Genco Shipping & Trading 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.

globenewswire.com 2024 Sep 10
GNK Stock News Image - zacks.com

Genco Shipping & Trading (GNK) came out with quarterly earnings of $0.46 per share, beating the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.27 per share a year ago.

zacks.com 2024 Aug 07
GNK Stock News Image - globenewswire.com

Declares Dividend of $0.34 per share for Q2 2024; Represents Genco's 20th Consecutive Quarterly Dividend Totaling $5.915 Per Share Declares Dividend of $0.34 per share for Q2 2024; Represents Genco's 20th Consecutive Quarterly Dividend Totaling $5.915 Per Share

globenewswire.com 2024 Aug 07
GNK Stock News Image - zacks.com

Genco Shipping (GNK) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

zacks.com 2024 Jul 31
GNK Stock News Image - globenewswire.com

NEW YORK, July 16, 2024 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE: GNK) announced today that it will hold a conference call to discuss the Company's results for the second quarter of 2024 on Thursday, August 8, 2024 at 8:30 a.m. Eastern Time. The conference call will also be broadcast live over the Internet and include a slide presentation. The Company will issue financial results for the second quarter ended June 30, 2024 on Wednesday, August 7, 2024 after the close of market trading.

globenewswire.com 2024 Jul 16
GNK Stock News Image - seekingalpha.com

Genco, a shipper of drybulk cargo, has successfully turned itself around, becoming profitable and eliminating debt, making bankruptcy unlikely. The company owns a fleet of 43 vessels used for international drybulk shipping, with a "barbell" strategy focusing on Major and Minor Bulk cargo. Genco's financial results are heavily influenced by the Drybulk Index, with positive updates in FY 2023 and Q1 2024, including increased dividends and debt reduction.

seekingalpha.com 2024 Jun 21
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