Diana Shipping (DSX) Stock

ATHENS, Greece, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Mitsui O.S.K. Lines, Ltd., for one of its Capesize dry bulk vessels, the m/v Santa Barbara. The gross charter rate is US$22,000 per day, minus a 5.00% commission paid to third parties, for a period until minimum October 20, 2025 up to maximum December 20, 2025. The charter is expected to commence on December 28, 2024. The m/v Santa Barbara was chartered, as previously announced, to Smart Gain Shipping Co., Limited, at a gross charter rate of US$21,250 per day, minus a 5.00% commission paid to third parties.

ATHENS, Greece, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with China Resource Chartering Limited, for one of its Panamax dry bulk vessels, the m/v Maera. The gross charter rate is US$8,400 per day, minus a 5.00% commission paid to third parties, for a period until minimum September 20, 2025 up to maximum November 20, 2025. The charter commenced on December 15, 2024.

Diana Shipping operates its fleet solely on time charter contracts, which can be advantageous or disadvantageous depending on market conditions. My last review in February highlighted a strong bull case for Diana Shipping, highlighting the dangers to their dividend level at that time. I will give a last vote of confidence to the company due to its strategic approach and favorable market positioning, its share buyback program and specialty vessels coming in.

ATHENS, Greece, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX) (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced it is commencing a tender offer to purchase up to 15,000,000 shares, or about 12.0%, of its outstanding common stock, using funds available from cash and cash equivalents on hand at a price of $2.00 per share. The tender offer will expire at the end of the day, 5:00 P.M., Eastern Time, on December 31, 2024, unless extended or withdrawn. The Board of Directors determined that it is in the Company's best interest to repurchase shares at this time given the Company's cash position and stock price. The tender offer is not conditioned upon any minimum number of shares being tendered. Specific instructions and an explanation of the terms and conditions of the tender offer are contained in the Offer to Purchase and related materials that are being mailed to shareholders.

Declining TCE and rising OPEX impacted the company's results. DSX reported lower revenues, EBITDA, and net income. As a result, the company announced a considerable dividend cut. In the previous quarter, DSX restructured its debt, thus moving the maturity wall to 2029. In October and November, the company continued with improving its capital structure. After the dividend cut, the FWD yield is 14%. The payout ratio is near a 100%. So, dividend safety is questionable.

Diana Shipping Inc. (NYSE:DSX ) Q3 2024 Earnings Conference Call November 25, 2024 9:00 AM ET Company Participants Edward Nebb - Investor Relations Semiramis Paliou - Chief Executive Officer Ioannis Zafirakis - Director, Chief Financial Officer & Chief Strategy Officer Dave Van der Linden - CCO, Steamship Shipbroking Enterprises Inc. Conference Call Participants Climent Molins - Value Investor's Edge Operator Greetings, and welcome to the Diana Shipping Third Quarter 2024 Conference Call and Webcast. At this time all participants are in a listen-only mode.

ATHENS, Greece, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced the release of its Environmental, Social and Governance Report (the “ESG Report”), for the year ended December 31, 2023. The ESG Report provides an overview of the Company's policies and practices relating to its environmental, social and governance commitments. The ESG Report is available on the Company's website at www.dianashippinginc.com .

ATHENS, Greece, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced the successful signing of a US$80.2 million seven-year secured term loan facility with Danish Ship Finance A/S on October 18, 2024.

Diana Shipping recorded a weak quarter due to its significant exposure to long-term contracts. On the positive side, DSX has made changes in its capital structure. The company restructured its debt, moving significant maturities to 2029, enhancing dividend safety for both common and preferred shares. DSX declared a cash dividend on its common stock of $0.075/share. At the present stock price, the yield is 15.6%. DSX preferred shares are attractive, too. They offer 8.3% yield.