Genco Shipping & Trading Limited

Genco announced an enhanced dividend policy to increase cash distributable to shareholders. By removing the drydocking capex line item from the formula that the company uses to calculate its quarterly dividend, Genco will increase the amount of cash available for dividends beginning in the third quarter of 2024. John Wobensmith, Genco’s CEO commented, “This enhancement to our dividend formula reflects our belief that our low leverage will support larger dividends to shareholders. At the same time, we continue to maintain significant financial strength to grow and renew our fleet and further improve our earnings power.”   Read more here: https://lnkd.in/e83gDGBY

This past Friday, NAMEPA corporate member Genco Shipping & Trading Limited teamed up with NAMEPA for a beach clean-up at Orchard Beach Park in the Bronx. In total, 125 pounds of trash and over 1,700 individual pieces were collected along the beach and throughout the park! Thank you so much to NYC Department of Parks & Recreation for sharing the beach with us! Interested in partnering for a beach clean-up? Head to our website www.namepa.net #SaveOurSeas #BeachCleanUp #NYCParks #NAMEPAMember

The Seamen's Church Institute is proud to welcome Genco Shipping & Trading as an annual Supporting Sponsor. Building on their long-standing support, this new sponsorship reflects Genco's deep commitment to the #maritime community and underscores the vital work SCI does with #seafarers and #mariners. Thank you to Genco and all our incredibly generous sponsors who give annually at the $100,000+ and $50,000+ level—our work would not be possible without your support! Learn more about SCI's corporate sponsorships here: https://lnkd.in/ebXKhEkp #ThankYou: American Commercial Barge Line (ACBL) Ingram Barge Company Trinity Church Wall Street American Bureau of Shipping (ABS) Genco Shipping & Trading Limited Kirby McAllister Towing MSC Mediterranean Shipping Company Moran Towing Corporation TOTE Maritime Seward & Kissel LLP

Genco’s $0.34 second quarter #dividend is payable on August 26, 2024 to all shareholders of record as of August 19, 2024. We are incredibly proud that this marks our 20th consecutive quarterly payout, reflective of five uninterrupted years of dividends and a best-in-class commitment to prioritizing the return of capital to shareholders. Over this time, we have declared cumulative dividends of $5.915 per share, which represents over 30% of our share price.

Genco Shipping & Trading announced that it will hold a conference call to discuss the Company's results for the second quarter of 2024 on Thursday, August 8, 2024 at 8:30 a.m. Eastern Time. #earnings #drybulk #maritime

As part of Marine Money Week 2024, Genco executives were invited to the Nasdaq Stock Exchange and honored as winners of the “2023 Bank Debt Deal of the Year” for the closing of our $500 million revolving credit facility. Special thanks to our team members who completed a highly successful transaction consistent with our comprehensive Value Strategy and that meaningfully increased borrowing capacity, reduced margin, extended maturity while providing Genco with significant financial flexibility.

On this International Day of the Seafarer, The Seamen's Church Institute recognizes and salutes those who navigate the oceans to keep our world connected and commerce flowing. Thank you for your unwavering commitment and sacrifice. As always, you remain in our hearts and prayers. Join us in supporting mariners and seafarers; consider donating to SCI. https://lnkd.in/dAu9AqYW

Marine Money Week Spotlight Session: Dry Cargo & Investment Returns: How to Maximize Value for Shareholders. Register for next week's event here: https://lnkd.in/devuV3i8 The dry cargo market has remained resilient this year, underpinned by a modest orderbook and steady demand. In this session, top owners talk about how they are structuring their businesses and positioning their fleets, for the future. Panelists: Peder Simonsen, Golden Ocean Group Ted Petrone, Navios Maritime Partners L.P. Anastasios Aslidis, EuroDry Ltd. Peter Allen, CFA, Genco Shipping & Trading Limited Moderated by: Wiley Griffiths, Morgan Stanley Infrastructure Partners #Ship #Finance #Investors #Investment #Fintech #Maritime #CapitalMarkets #ShippingIndustry #MarineFinance #Drybulk #Strategy #MarineMoney

Genco CEO John C. Wobensmith appeared on Bloomberg TV to discuss #drybulk industry trends and broader macroeconomic factors impacting global trade. John provided insights into the current situation for shippers around the Baltimore Harbor, Panama Canal and Red Sea, and the state of the Chinese and Indian economies based on #demand for dry bulk commodities.

Our CEO, John C. Wobensmith, was honored by the Maritime Association of the Port of New York & New Jersey with induction into the prestigious Maritime Hall of Fame. John was recognized for his significant contributions as an industry leader and advocate for the advancement of #maritime shipping throughout his decades-long career. Congratulations to John and the four other maritime industry leaders inducted! #IMHOF24 #DryBulk #Shipping