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Diana Shipping Inc. Reports Financial Results for the First Quarter Ended March 31, 2026; Declares Cash Dividend of $0.01 Per Common Share

DSX
  • Diana Shipping Inc. reported net income of $29.1 million & net income attributable to common stockholders of $27.7 million for Q1 2026, compared to $3.0 million & $1.6 million respectively in Q1 2025.
  • Earnings per share for Q1 2026 were $0.25 basic & diluted, up from $0.01 in the same quarter of 2025.
  • Time charter revenues totaled $54.7 million in Q1 2026, slightly down from $54.9 million in Q1 2025 due to reduced ownership days following a vessel sale, offset by higher average charter rates & improved fleet utilization.
  • The Company declared a cash dividend of $0.01 per share payable on or about June 18, 2026, to shareholders of record as of June 10, 2026.
  • As of May 27, 2026, the Company had 124,402,479 common shares issued & outstanding & 15,689,643 warrants outstanding.
  • The fleet consisted of 36 vessels as of May 26, 2026, with a weighted average age of 12.4 years & a fleet utilization rate of 99.9%.
  • The Time Charter Equivalent (TCE) rate for Q1 2026 was $16,035 per day, compared to $15,739 in Q1 2025, while daily vessel operating expenses rose to $6,009 from $5,866.
  • The Company will host a conference call & webcast on May 28, 2026, at 9:00 A.M. Eastern Time to review results, with replay availability for 30 days.
  • Financial tables show total assets of $1,188.8 million as of March 31, 2026, with long-term debt & finance liabilities at $621.1 million.
  • Net cash provided by operating activities was $20.3 million for Q1 2026, while net cash used in financing activities was $18.2 million.