5 Oil Tanker Stocks That Pay Dividends

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

Number of Hedge Fund Holders: 20     

Forward Dividend Yield: 12.10%

Genco Shipping & Trading Limited (NYSE:GNK) engages in the ocean transportation of a variety of cargoes. The company is on part with the sector median with regards to dividend payouts. However, it recently hiked the dividend payment by a massive 350%. On March 8, the quarterly dividend payout was $0.67 per share, compared to $0.15 per share previously. In late February, the firm also announced quarterly earnings, beating market estimates on earnings per share and revenue by $0.05 and $49 million respectively. 

Genco Shipping & Trading Limited (NYSE:GNK) has an impressive fleet of vehicles which consist of 44 dry bulk carriers. These include 17 Capesize, 15 Ultramax, and 12 Supramax with an aggregate capacity of approximately 4,636,000 deadweight tons. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Centerbridge Partners is a leading shareholder in Genco Shipping & Trading Limited (NYSE:GNK) with 4.5 million shares worth more than $73 million.  

At the end of the fourth quarter of 2021, 20 hedge funds in the database of Insider Monkey held stakes worth $144 million in Genco Shipping & Trading Limited (NYSE:GNK), compared to 17 in the preceding quarter worth $175 million.