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G NEWS RELEASE Genco Shipping & Trading Limited Announces Third Quarter Financial Results 11/3/2021 Increases Quarterly Dividend and Approaches Full Execution of Genco's Comprehensive Value Strategy Reports Highest Quarterly Earnings Per Share Since 2008 NEW YORK , Nov. 03 , 2021 ( GLOBE NEWSWIRE ) -- Genco Shipping & Trading Limited ( NYSE : GNK ) ( " Genco " or the " Company " ) , the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities , today reported its financial results for the three months and nine months ended September 30 , 2021 . The following financial review discusses the results for the three months and nine months ended September 30 , 2021 and September 30 , 2020 . Third Quarter 2021 and Year - to - Date Highlights • As part of Genco's comprehensive value strategy announced in April 2021 , we have taken the following steps in the year - to - date : • Closed our $ 450 Million Credit Facility in August 2021 , which provides additional flexibility for capital allocation , lowers our cash flow breakeven rate , and improves key terms • Took delivery of four modern , fuel efficient Ultramax vessels in Q3 2021 • Repaid $ 144.2 million of debt during the first nine months of 2021 , or 32 % of the beginning year debt balance 1