Genco Shipping & Trading saw an immediate lift in its share price last November after bringing in a regular shareholder dividend, plus a one-time special dividend.
Companies with dividends generally have stronger valuations than those without. But has the premium held up for Genco? The answer seems to be “sort of”, according to numbers from Jefferies analyst Randy Giveans.
Genco was fourth of seven owners in Jefferies’ peer group of New York-listed dry bulk owners, trading at 67% of its net asset value (NAV).
