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Subsequent Events
3 Months Ended
Mar. 31, 2023
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On April 13, 2023, the Company signed memorandums of agreement to sell the vessels Montauk Eagle, Newport Eagle and Sankaty Eagle (each, a 2011-built Supramax) for total consideration of $49.8 million. The Newport Eagle was delivered to the buyer on May 3, 2023. The Montauk Eagle and Sankaty Eagle are expected to be delivered to the buyer in the second quarter of 2023. The Company expects to record a gain of approximately $17.0 million for the year ending December 31, 2023 in connection with the sales of these vessels, subject to customary closing conditions and the timing of delivery of each vessel.
On May 4, 2023, the Company's Board of Directors declared a cash dividend of $0.10 per share to be paid on or about May 25, 2023 to shareholders of record at the close of business on May 17, 2023. The aggregate amount of the dividend is expected to be approximately $1.3 million, which the Company anticipates will be funded from cash on hand at the time the payment is to be made.