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Video: What is a Stock Split?
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Genco Shipping & Trading is a holding company. Through its subsidiaries, Co. transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes through the ownership and operation of drybulk carrier vessels. Capesize vessels represent Co.'s primary bulk vessel category and the other vessel classes, including Ultramax, Supramax and Handysize vessels, represent its minor bulk vessel category. Co.'s primary bulk vessels are primarily used to transport iron ore and coal, while its minor bulk vessels are primarily used to transport grains, steel products and other drybulk cargoes such as cement, scrap, fertilizer, bauxite, nickel ore, salt and sugar. According to our GNK split history records, Genco Shipping and Trading has had 1 split. | |
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Genco Shipping and Trading (GNK) has 1 split in our GNK split history database. The split for GNK took place on July 08, 2016. This was a 1 for 10 reverse split, meaning for each 10 shares of GNK owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 100 share position following the split.
When a company such as Genco Shipping and Trading conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the GNK split history from start to finish, an original position size of 1000 shares would have turned into 100 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Genco Shipping and Trading shares, starting with a $10,000 purchase of GNK, presented on a split-history-adjusted basis factoring in the complete GNK split history.
Growth of $10,000.00
With Dividends Reinvested
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Start date: |
07/16/2014 |
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End date: |
04/24/2024 |
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Start price/share: |
$212.50 |
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End price/share: |
$21.22 |
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Starting shares: |
47.06 |
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Ending shares: |
65.79 |
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Dividends reinvested/share: |
$5.16 |
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Total return: |
-86.04% |
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Average Annual Total Return: |
-18.23% |
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Starting investment: |
$10,000.00 |
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Ending investment: |
$1,396.68 |
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Years: |
9.78 |
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Growth of $10,000.00
Without Dividends Reinvested
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Start date: |
07/16/2014 |
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End date: |
04/24/2024 |
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Start price/share: |
$212.50 |
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End price/share: |
$21.22 |
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Dividends collected/share: |
$5.16 |
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Total return: |
-87.59% |
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Average Annual Total Return: |
-19.21% |
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Starting investment: |
$10,000.00 |
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Ending investment: |
$1,241.31 |
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Years: |
9.78 |
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Date |
Ratio |
07/08/2016 | 1 for 10 |
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