5 Best Shipping Stocks That Pay Dividends

4. Golden Ocean Group Limited (NASDAQ:GOGL)

Number Of Hedge Fund Holders: 18

Dividend Yield as of December 14: 25.88%

Owning one of the largest dry bulk fleets in the world, Golden Ocean Group Limited (NASDAQ:GOGL) is a Bermuda-registered, Norway-based dry bulk shipping company that was created as a demerged part of Frontline in 2004 and is listed on Nasdaq and the Oslo Stock Exchange.

On October 4, Golden Ocean Group Limited (NASDAQ:GOGL) announced a share repurchase program of up to $100 million of the company’s common stock for a period of up to 12 months. As of September 26, Jefferies analyst Omar Nokta has a Hold rating and a $10 price target on Golden Ocean Group Limited (NASDAQ:GOGL).

Golden Ocean Group Limited (NASDAQ:GOGL) declared a quarterly cash dividend of $0.35 per share for Q3 2022. Its shares have a dividend yield of 25.88% as of December 14.

At the close of Q3 2022, 18 hedge funds were long Golden Ocean Group Limited (NASDAQ:GOGL) and held stakes worth $47 million in the company. Of those, Renaissance Technologies was the most prominent shareholder and held stakes worth $30.8 million in the company.

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