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

Financial Performance - Diana Shipping Inc. reported a net income of $3.0 million for Q1 2025, an increase from $2.1 million in Q1 2024. Net income attributed to common stockholders rose to $1.6 million from $0.6 million in the same period [1][13][26] - Earnings per share remained stable at $0.01 for both Q1 2025 and Q1 2024 [1][26] - Time charter revenues decreased to $54.9 million in Q1 2025 from $57.6 million in Q1 2024, attributed to decreased ownership days, although this was partially offset by increased average charter rates and fleet utilization [2][13] Dividend Declaration - The Company declared a cash dividend of $0.01 per share, payable on or about June 24, 2025, to shareholders of record as of June 17, 2025 [3] Fleet and Operations - As of May 27, 2025, the Company operated a fleet with an average age of 11.4 years and a fleet utilization rate of 99.6% [14] - The average number of vessels decreased from 39.7 in Q1 2024 to 37.8 in Q1 2025, with ownership days dropping from 3,613 to 3,401 [14] Cash Flow and Financial Position - Net cash provided by operating activities was $17.2 million in Q1 2025, down from $37.965 million in Q1 2024 [29] - Total assets decreased to $1.143 billion as of March 31, 2025, from $1.171 billion at the end of 2024 [27]