Diana Shipping Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2024; Declares Cash Dividend of $0.01 Per Common Share for the Fourth Quarter 2024

25 Feb 2025 15:39 CET

ATHENS, GREECE, February 25, 2025 – 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 $9.7 million and a
net income attributed to common stockholders of $8.3 million for the fourth
quarter of 2024. This compares to net income of $9.4 million and net income
attributed to common stockholders of $7.9 million for the fourth quarter of
2023. Earnings per share for the fourth quarter of 2024 were $0.07 basic and
$0.02 diluted, compared to earnings per share of $0.08 basic and $0.06 diluted
in the same quarter of 2023.

Time charter revenues were $57.1 million for the fourth quarter of 2024,
compared to $60.0 million for the same quarter of 2023. The decrease in time
charter revenues, compared to the same quarter last year, was due to decreased
ownership days.

Net income for 2024 amounted to $12.7 million and net income attributed to
common stockholders amounted to $7.0 million. This compares to net income of
$49.8 million and net income attributed to common stockholders of $44.1 million
for 2023. Time charter revenues for 2024 were $228.2 million, compared to $262.1
million for 2023. Earnings per share for 2024 were $0.06 basic and $0.05
diluted, compared to earnings per share of $0.44 basic and $0.42 diluted for
2023.

Dividend Declaration

The Company has declared a cash dividend on its common stock of $0.01 per share,
based on the Company’s results of operations during the fourth quarter ended
December 31, 2024. The cash dividend will be payable on March 21, 2025 to all
common shareholders of record as of March 12, 2025. As of February 24, 2025, the
Company has 113,763,924 common shares issued and outstanding and there were
6,394,709 warrants exercised...

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