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Genco to focus on dividends and cutting debt

US-based dry bulk owner is aiming to pay down debt to $250m by the end of the year, with a longer-term goal of reducing net debt to zero, in order to be able to pay consistent dividends

Genco’s chief executive says he wants to carry out paying dividends even if markets turn softer and one of the ways to do that is to delever to reduce cash flow breakeven rates

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