Showing position as xx°yy.z' N / S / W / E instead of decimal

Is it possible to change the format of a position from decimal xx°yyyy to showing position as xx°yy.z' N / S / W / E ?

I know there might be a battle as many people on land might actually prefer the decimal format, but at sea it is very inconvenient. We do operate in degrees and minutes for navigational reasons. It is not hugely difficult to recalculate in my head, but it would be great to have it as an editable option.