Genco Shipping & Trading Limited has recently announced its financial results for the fourth quarter of 2025. The company declared a dividend of $0.50 per share for Q4 2025, the highest dividend since Q4 2022 and the 26th consecutive quarterly dividend. This marks a significant increase from the Q3 2025 dividend, which saw a 200% increase to $0.50 per share compared to the previous quarter.
The company's net income for Q4 2025 amounted to $15.4 million, or basic and diluted earnings per share of $0.35. Adjusted net income stood at $17.3 million, or basic and diluted earnings per share of $0.40 and $0.39, respectively, excluding other operating expenses of $1.9 million. This represents an increase from the net income of $12.7 million reported for the same period in 2024.
Genco's adjusted EBITDA for Q4 2025 was reported at $42.0 million, representing the highest quarterly level since Q4 2022. Additionally, the company's voyage revenues reached $109.9 million, with a net revenue of $77.2 million and an average daily fleet-wide TCE of $20,064 per day, the highest since Q3 2022.
The company's estimated Q1 2026 TCE to date stands at $17,966 for 80% of its owned fleet available days, a notable increase of over 50% year-over-year. This indicates a strong start to the year, with Genco expecting a higher dividend in Q1 on a year-over-year basis.
Genco's deliberate steps to enhance its premium earning asset base, combined with its spot-focused commercial strategy and low cash flow breakeven levels, have positioned the company to capitalize on a strengthening dry bulk market. The acquisitions of new vessels, including the delivery of the Genco Courageous and the expected acquisition of two Newcastlemax vessels in Q1 2026, are set to further increase the company's operating leverage and expand its dividend capacity.
The company's comprehensive value strategy, centered on dividends, deleveraging, and growth, has resulted in a net loan-to-value (LTV) of 12% as of December 31, 2025, and a strong liquidity position of $455.5 million. Genco's active commercial operating platform and fleet deployment strategy have contributed to its strong financial performance.
The market has reacted to these announcements by moving the company's shares -2.67% to a price of $19.35. If you want to know more, read the company's complete 8-K report here.
