Genco Shipping & Trading dished out a fatter dividend under a new formula while producing profitable third-quarter results that were exactly in line with analyst expectations.
The New York-listed dry bulk shipowner is paying out $0.40 per share as the first distribution since it changed the calculation for what funds may be excluded from the dividend kitty.
Dry-docking change
Capital expenditures for dry-dockings formerly were excluded and now are not.
