Diana Shipping Inc. Reports Financial Results for the First Quarter Ended March 31, 2024; Declares Cash Dividend of $0.075 per Common Share for the First Quarter 2024

28 May 2024 17:28 CEST

ATHENS, GREECE, May 28, 2024 – Diana Shipping Inc. (NYSE: DSX), (the “Company”),
a global shipping company specializing in the ownership and bareboat charter-in
of dry bulk vessels, today reported net income of $2.1 million and net income
attributed to common stockholders of $0.6 million for the first quarter of 2024.
This compares to net income of $22.7 million and net income attributed to common
stockholders of $21.3 million for the first quarter of 2023. Earnings per share
for the first quarter of 2024 was $0.01 basic and diluted, compared to earnings
per share of $0.22 basic and diluted in the same quarter of 2023.

Time charter revenues were $57.6 million for the first quarter of 2024, compared
to $72.6 million for the same quarter of 2023. The decrease in time charter
revenues, compared to the same quarter of last year, was due to decreased
average charter rates and ownership days.

Dividend Declaration

The Company has declared a cash dividend on its common stock of $0.075 per
share, based on the Company’s results of operations during the first quarter
ended March 31, 2024. The cash dividend will be payable on or about June 18,
2024 to all common shareholders of record as of June 12, 2024. The Company
currently has 120,321,240 common shares issued and outstanding. As of May 20,
2024, there were 3,284,372 warrants exercised.

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