Star Bulk Carriers has closed out the most profitable year in its history by sharing the wealth with its shareholders in a 60% dividend increase.

The New York-listed pure-play bulker company booked net profit of $300.2m during the final quarter of last year, equivalent to basic earnings per share of $2.94.

On top of this, Star Bulk’s board has declared a dividend of $2 per share for the fourth quarter, up from $1.25