Star Bulk Carriers Corp (NASDAQ:SBLK), a leading dry bulk shipping company, experienced a significant surge of 5.01% in its stock price during the intraday trading session on Thursday. This upward movement was fueled by the company's impressive fourth-quarter 2024 financial results and positive developments, including a robust earnings performance, dividend declaration, and synergy gains from the integration of Eagle Bulk.

In its latest earnings report, Star Bulk Carriers reported a net income of $42 million and an adjusted net income of $41 million for the fourth quarter of 2024. The company's adjusted EBITDA reached $104 million, and it generated an excess cash flow of $17.6 million during the same period. These strong financial metrics reflect the company's operational efficiency and resilience in the dry bulk shipping market.

Additionally, Star Bulk Carriers announced a dividend of $0.09 per share, payable on or about March 18, 2025, as part of its new dividend policy. This move demonstrates the company's commitment to returning value to its shareholders. Furthermore, Star Bulk Carriers repurchased 500,000 shares for $7.4 million at an average price of $14.83 per share, underscoring its confidence in the company's long-term prospects.