GNK Dividend Type Payments

Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) dividend

Although GNK has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 4:16 PM ET):

Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (GNK)
Bid Ask Last Change Volume P/E Market Cap
13.00 13.75 13.58 +0.22 485K 7.6 0.6B

GNK Dividend-Like Income Using Covered Calls

With GNK at 13.58, here's a table showing how big the annual "dividend" (i.e. total annual call premium received) would need to be to attain 3%, 5%, and 10% annual yields. Also shown is the equivalent number of cents/day necessary to achieve each yield:

Annual Yield Annual Premium Cents/Day
3% 0.41 0.1
5% 0.68 0.2
10% 1.36 0.4

So now we need to find out of the money covered calls that pay at least the prescribed cents/day amount of time premium. That will generate income and, because they are out of the money, leave room for some upside potential on the stock. Here are some examples:

3% Yield On GNK Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 15.00 0.35 106 0.3 1.25 (9.2%)
Jun 20 15.00 0.10 50 0.2 1.25 (9.2%)
5% Yield On GNK Using Covered Calls
Expiration Strike Call Bid Days Cents/Day Upside Potential
Aug 15 15.00 0.35 106 0.3 1.25 (9.2%)
Jun 20 15.00 0.10 50 0.2 1.25 (9.2%)

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