2020 Bulkers is using the proceeds from the sale of two vessels earlier this year to hand out a special dividend to shareholders and pay down its debt.
The Oslo-listed newcastlemax owner on Tuesday said it will distribute $1.68 per share or $38.m in total to investors.
2020 Bulkers sold a pair of five-year-old, China-built newcastlemaxes for about $128m in total during mid-February to Neda Maritime of Greece.
