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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. Genco expects to take delivery of the vessel, to be named the Genco Intrepid, within the next 30 days, and intends to fund the acquisition with cash on hand and a drawdown f ...

CloudVisual Investment thesis Income investors willing to endure some volatility may wish to take a look at Genco Shipping & Trading Limited (NYSE:GNK). It currently has a dividend yield of 8.18%, which would normally be a red flag. In this case, though, Genco ties its dividend to "100% of excess quarterly cash flow, excluding dry docking and a voluntary reserve." That's something approximating its operating income, and can vary considerably from quarter to quarter. The company also is prospering through hi ...

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. 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 ...

GENCO SHIPPING & TRADING LIMITED Q2 2024 Earnings Presentation August 8th, 2024 Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements use words such as "anticipate," "budget," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of si ...

Genco Shipping & Trading Limited (NYSE:GNK) Q2 2024 Earnings Conference Call August 8, 2024 8:30 AM ET Company Participants John C. Wobensmith - Chief Executive Officer Peter Allen - Chief Financial Officer Michael Orr - Dry Bulk Market Analyst Conference Call Participants Omar Nokta - Jeffries Liam Burke - B. Riley Benjamin Nolan - Stifel Bendik Nyttingnes - Clarkson securities Poe Fratt - Alliance Global Partners. Operator Good morning, ladies and gentlemen, and welcome to the Genco Shipping & Trading Lim ...

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. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 9.52%. A quarter ago, it was expected that this transporter of drybulk cargo would post earnings of $0.46 per share when it actually produced earnings of $0.49, delivering a surprise of 6.52%. Over the las ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ⌧ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ◻ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-33393 GENCO SHIPPING & TRADING LIMITED (Exact name of registrant as specified in its charter) Republic of the Marshall Isl ...

Exhibit 99.1 1 GENCO SHIPPING & TRADING LIMITED ANNOUNCES Q2 2024 FINANCIAL RESULTS Declares Dividend of $0.34 per share for Q2 2024; Represents Genco's 20th Consecutive Quarterly Dividend Totaling $5.915 Per Share New York, New York, August 7, 2024 – 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 reported its financial results for the three months and six months ended June 30 ...

NEW YORK, Aug. 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, today reported its financial results for the three months and six months ended June 30, 2024. Second Quarter 2024 and Year-to-Date Highlights Dividend: Declared a $0.34 per share dividend for Q2 2024 20th consecutive quarterly dividend over the last five years Cumulative dividends of $5.915 pe ...