Star Bulk Carriers reported strong third-quarter results with a net income of $18.5 million and a commitment to shareholder returns through dividends and share buybacks.
- Adjusted net income reached $32.4 million, equating to $0.16 per share, supported by an adjusted EBITDA of $87 million.
- The company repurchased 250,000 shares for $4.4 million in Q3, with an additional 360,000 shares purchased in Q4 to date.
- A dividend of $0.11 per share was declared, maintaining a focus on returning capital to shareholders.
- Total cash increased to $454 million with pro forma liquidity exceeding $570 million after factoring in undrawn revolver facilities.
- Star Bulk maintained a robust fleet modernization strategy, with ongoing investments in energy-efficient vessels and a plan for significant fleet upgrades through newbuildings.
Community Discussion