Genco Shipping reports Q4 EPS 29c, consensus 30c

Reports Q4 revenue $66.1M, consensus $67.36M. John Wobensmith, CEO, commented, “During 2024, we grew earnings, while continuing to prioritize the three pillars of Genco’s comprehensive value strategy namely dividends, deleveraging and growth. Consistent with our commitment to returning significant capital to shareholders, we took steps to enhance our dividend policy aimed at increasing cash available for distribution on a quarterly basis. We are pleased to advance our track record of dividends to shareholders through market cycles, as Genco has now declared 22 consecutive quarterly dividends, representing $6.615 per share, or 45% of our stock price.”