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Star Bulk Carriers Corp. (NASDAQ:SBLK) is included among the 10 Best Shipping Stocks with Dividends.
Star Bulk Carriers Corp. (NASDAQ:SBLK), a Greece-based shipping company listed in the US, operates a fleet of 148 dry bulk vessels that transport global commodities such as grains, fertilizers, minerals, and steel products. The company runs three categories of ships, with an average fleet age of under 10 years, positioning it among the most cost-efficient dry bulk operators worldwide.
Despite facing seasonal market softness in the first quarter of 2025, Star Bulk Carriers Corp. (NASDAQ:SBLK) remained profitable, reporting a net income of $0.5 million, EBITDA of $58.0 million, and a time charter equivalent (TCE) rate of $12,439 per vessel per day. With liquidity exceeding $500 million, net debt below the fleet’s scrap value, and 13 vessels unencumbered, the company views itself as well-positioned to take advantage of opportunities within the dry bulk sector.
Star Bulk Carriers Corp. (NASDAQ:SBLK) also continues to follow a disciplined capital allocation strategy focused on enhancing shareholder value through a mix of dividends and share repurchases. The Board announced a $0.05 per share dividend, marking the 17th straight quarter of capital returns, which have reached approximately $1.35 billion to date. In addition, the company repurchased around 1.3 million shares using proceeds from vessel sales at net asset value, buying back stock at prices well below NAV to capitalize on market dislocations and further boost shareholder returns. With a dividend yield of 7.85%, as of July 30, SBLK is among the best dividend stocks in the shipping sector.
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READ NEXT: 13 Best Materials Dividend Stocks to Buy Right Now and 10 Best and Safe Dividend Stocks to Buy Now
Disclosure: None.
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