Genco Shipping & Trading Limited, the largest US-based owner of Drybulk vessels focused on the global transportation of commodities, today announced that it has launched www.GencoDrivesSuperiorReturns.com To provide shareholders with important information about Genco’s overall value strategy, the Company’s strong corporate governance practices and the risks associated with Diana Shipping Inc.’s attempt to (“Diana”) to acquire Genco.
The website provides clear and compelling information, including:
Details about Genco’s overall value strategy, which has returned $292 million to shareholders in dividends since April 2021 and generated total shareholder returns (TSR) of 247% over the past five years, more than triple the S&P 500’s return of 76% and far exceeding Diana’s TSR of 53% over the same period;1
Highlights of Genco’s strong and industry-leading governance practices, including being the only US-listed Drybulk company with no related party transactions;
Background of Genco’s qualified and engaged Board of Directors, whose extensive industry experience and leadership is critical to the continued successful execution of the Company’s low-leverage, high-dividend strategy;
Analysis of the significant risks to Genco shareholders as a result of Diana’s attempt to acquire Genco through an unsuitable takeover bid and proxy fights to replace the board of directors; and
Actions shareholders can take to protect their investment in Genco.
Genco will file its proxy statement in connection with its 2026 annual meeting of shareholders, which has not yet been scheduled, in due course. The Board of Directors recommends that shareholders ignore any proxy materials they may receive from Diana prior to the Annual Meeting. Shareholders do not need to take any action at this time.
Jefferies LLC is serving as financial advisor to Genco, and Herbert Smith Freehills Kramer (US) LLP and Sidley Austin LLP are serving as legal advisor to Genco. Morgan Stanley & Co. LLC as a special advisor to the Board of Directors.
Source: Jinco Shipping and Trading
