Diana Shipping Inc. Reports Financial Results for the First Quarter Ended March 31, 2025; Declares Cash Dividend of $0.01 Per Common Share for the First Quarter 2025

29 May 2025 15:38 CEST

ATHENS, GREECE, May 29, 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 $3.0 million and net income
attributed to common stockholders of $1.6 million for the first quarter of 2025.
This compares to net income of $2.1 million and net income attributed to common
stockholders of $0.6 million for the first quarter of 2024. Earnings per share
for the first quarter of 2025 was $0.01 basic and diluted, compared to earnings
per share of $0.01 basic and diluted in the same quarter of 2024.

Time charter revenues were $54.9 million for the first quarter of 2025, compared
to $57.6 million for the same quarter of 2024. The decrease in time charter
revenues, compared to the same quarter of last year, was due to decreased
ownership days and was partly offset by the increased average charter rates and
the increased fleet utilization.

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 first quarter ended
March 31, 2025. The cash dividend will be payable on or about June 24, 2025 to
all common shareholders of record as of June 17, 2025. The Company currently has
115,772,780 common shares issued and outstanding. As of May 27, 2025, there were
6,400,114 warrants exercised...

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