Genco Shipping & Trading Q4 Earnings Call Highlights

Allen said the board declared a $0.50 per share dividend for the fourth quarter. The company’s dividend policy targets a distribution based on 100% of operating cash flow minus a voluntary reserve. For the quarter, Allen said operating cash flow was $41 million and the voluntary quarterly reserve was $19.5 million. Management characterized the payout as the company’s highest in three years and noted it was the highest quarterly dividend since Q4 2022.Adjusted EBITDA totaled $42 million in the fourth quarter ...