A new dividend formula has New York-listed Genco Shipping & Trading set to disclose an enhanced payout when it reports quarterly earnings on 6 November, and one equity analyst is taking a stab at predicting the number.
Shipping researcher Chris Robertson of Deutsche Bank said the Manhattan-based company should pay a distribution of $0.48 per share for the third quarter under a new formula that excludes dry-docking expenses from the reserves set aside from cash eligible for dividends.
