John Michael Radziwill’s GoodBulk has completed a profitable asset play with the sale of its only supramax bulker and surprised the market with a bumper second-quarter dividend.

Goodbulk, which is listed on Oslo’s over-the-counter (OTC) market, revealed the transaction and the increased payout as it continued a profitable start to a difficult year for the dry bulk market.

Goodbulk told investors today it had sold the 55,000-dwt Aquakula (built 2007) for...