GNK Stock Recent News

Declares Dividend of $0.40 per share for Q3 2024; Represents Genco's 21st Consecutive Quarterly Dividend Totaling $6.315 Per Share Declares Dividend of $0.40 per share for Q3 2024; Represents Genco's 21st Consecutive Quarterly Dividend Totaling $6.315 Per Share

Genco Shipping (GNK) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Genco Shipping (GNK) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

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.

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.

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.

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.

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.

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.

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