5 Dividend Stocks That Have Doubled Their Payouts

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

Number of Hedge Fund Holders: 17

Dividend Yield: 3.9%

Genco Shipping & Trading Limited (NYSE:GNK) is an industrials company that engages in the ocean transportation of dry bulk cargoes across the globe. The company owns and operates dry bulk carrier vessels and transports iron ore, coal, grains, steel products, and other dry-bulk cargoes. This year, the company has hiked its dividend thrice to bring in a cumulative increase of 650% in 2021.

This November, H.C. Wainwright analyst Magnus Fyhr reiterated a Buy rating on Genco Shipping & Trading Limited (NYSE:GNK) shares.

According to Insider Monkey’s hedge fund data, 17 hedge funds held stakes in Genco Shipping & Trading Limited (NYSE:GNK) in the third quarter worth $175 million. In the second quarter, 19 hedge funds held stakes in the company worth $175 million.