Dividends & Buybacks ·
Genco declares record Q3 dividend of $1.05 per share and reports $38M net income
GNKGenco Shipping & Trading Ltd
Genco Shipping & Trading Limited declared a record quarterly cash dividend of $1.05 per share for the third quarter ended September 30, 2026. The payment is payable on or about November 23, 2026 to shareholders of record as of November 16, 2026. For the quarter, the company reported net income of $38.0 million, or $0.87 per basic share, and adjusted EBITDA of $68.1 million, a 214% increase year-over-year. Voyage revenues reached $151.9 million with an average daily fleet-wide time charter equivalent (TCE) rate of $27,539. The company reiterated its projection for a Q4 2026 dividend greater than $1 per share based on current fixtures and the forward freight agreement curve. Genco Shipping & Trading Limited is the largest U.S.-headquartered drybulk shipowner focused on global commodity transportation.