Genco Shipping & Trading Increases Shareholder Payouts With Updated Dividend Formula, Eliminating Drydocking Capex
Portfolio Pulse from Benzinga Newsdesk
Genco Shipping & Trading has updated its dividend formula by removing the drydocking capex line item, increasing cash available for shareholder payouts starting Q3 2024.

September 10, 2024 | 11:00 am
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Genco Shipping & Trading has revised its dividend formula, removing the drydocking capex line item, which will increase cash available for shareholder distributions starting in Q3 2024.
The removal of the drydocking capex line item from the dividend formula means more cash will be available for distribution to shareholders. This is likely to be viewed positively by investors, as it directly increases potential returns, thus potentially boosting the stock price in the short term.
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