5 Highest Yielding Dividend Stocks You Can Buy

2. Genco Shipping & Trading Limited (NYSE:GNK)

Dividend Yield as of February 20: 17.28%

Genco Shipping & Trading Limited (NYSE:GNK) is one of the world’s largest dry bulk shipping companies. It provides full-service logistics solutions for the transportation of commodities around the world. The company is one of the best highest-yielding dividend stocks on our list as it has been making regular payments to its shareholders since the inception of its dividend policy in 2019. It currently pays a quarterly dividend of $0.78 per share and has a dividend yield of 17.28%, as of February 20.

In January, Fearnley upgraded Genco Shipping & Trading Limited (NYSE:GNK) to Buy with a $22 price target, up from $15. The firm highlighted the company’s consistent dividends and strong dividend yields.

As per Insider Monkey’s Q3 2022 database, 16 hedge funds owned stakes in Genco Shipping & Trading Limited (NYSE:GNK), the same as in the previous quarter. The collective value of these stakes is over $72.3 million. With over 2.6 million shares, Centerbridge Partners was the company’s leading stakeholder.

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