5 Biggest Dividend Cuts and Suspensions of 2022

2. Star Bulk Carriers Corp. (NASDAQ:SBLK)

Star Bulk Carriers Corp. (NASDAQ:SBLK) is a shipping company that owns and operates a fleet of dry bulk career vessels. The company is headquartered in Greece. In October, Deutsche Bank lowered its price target on the stock but maintained a Buy rating on the shares, highlighting the company’s overall performance this year.

On November 16, Star Bulk Carriers Corp. (NASDAQ:SBLK) declines a quarterly dividend by 27.3% to $1.20 per share. This is not the first time the company has slashed its dividends. The company’s falling earnings resulted in some of the biggest dividend cuts during the recession of 2008. The stock has a dividend yield of 23.9%, as of December 14.

At the end of Q3 2022, 16 hedge funds in Insider Monkey’s database owned stakes in Star Bulk Carriers Corp. (NASDAQ:SBLK), compared with 18 in the previous quarter. The collective value of these stakes is over $516.4 million. With over 26 million shares, Oaktree Capital Management was the company’s leading stakeholder.

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