Genco Shipping & Trading Limited declared a $0.80 per share dividend for the second quarter of 2026, up 433% from a year earlier and the richest payout yet under its value strategy, marking its 28th straight quarterly dividend and taking cumulative payouts to $8.715 per share. Management is projecting a third-quarter 2026 dividend above $1 per share based on fixtures booked so far and the current freight futures curve. The company swung from a net loss of $6.8 million in the second quarter of 2025 to net income of $16.6 million in the second quarter of 2026, with adjusted net income of $29.2 million and adjusted EBITDA of $56.7 million, up 297% year over year, as its daily time charter equivalent rate rose to $24,273 from $13,631. With 66% of owned fleet days already fixed, Genco's estimated third-quarter time charter equivalent sits at $28,587 per day, 18% above the second quarter and the highest since the second quarter of 2022. Long-term debt jumped to $319.5 million as of June 30 from $189.1 million at the end of 2025 to help fund vessel purchases, including the 2019-built Capesize Genco Volunteer, expected for August delivery, which still carries $58.5 million in remaining capital expenditures.
Genco Shipping & Trading LtdGenco declared a $0.80 Q2 dividend (up 433% YoY), swung to $16.6M net income, and projects a Q3 dividend above $1 per share.
China Dvlp Bk Finl Leasing Co