Genco's Unique Dividend Structure May Hold Promise For Income Investors
GNKGenco Shipping & Trading (GNK) Seeking Alpha·2024-09-10 20:43

CloudVisual Investment thesis Income investors willing to endure some volatility may wish to take a look at Genco Shipping & Trading Limited (NYSE:GNK). It currently has a dividend yield of 8.18%, which would normally be a red flag. In this case, though, Genco ties its dividend to "100% of excess quarterly cash flow, excluding dry docking and a voluntary reserve." That's something approximating its operating income, and can vary considerably from quarter to quarter. The company also is prospering through hi ...