Genco Shipping & Trading's Ex-Dividend Date Is Tuesday, Here's What You Need To Know

Monday marks the last chance for investors to receive the next dividend payout from Genco Shipping & Trading (NYSE:GNK).

What's Happening

The company announced on Wednesday that it would pay shareholders a quarterly dividend of 41 cents per share. On Tuesday, Genco Shipping & Trading will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 41 cents lower than it would have opened on any other day.

In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Tuesday. Shareholders who own GNK as of the end of Monday's session are eligible to receive the 41 cents dividend payout for every share that they own.

According to the company, this dividend will be paid out to shareholders on March 13, 2024. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way.

Monitor live stock price updates for Genco Shipping & Trading on Benzinga.