Diana Shipping Inc. (NYSE:DSX) Announces Quarterly Dividend of $0.08

Diana Shipping Inc. (NYSE:DSX) declared a quarterly dividend on Wednesday, July 31st, NASDAQ reports. Investors of record on Thursday, August 15th will be given a dividend of 0.075 per share by the shipping company on Friday, August 30th. This represents a $0.30 dividend on an annualized basis and a yield of 11.54%. The ex-dividend date of this dividend is Thursday, August 15th.

Diana Shipping has a payout ratio of 32.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Diana Shipping to earn $0.59 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 50.8%.

Diana Shipping Trading Up 0.8 %

NYSE DSX opened at $2.60 on Wednesday. The company has a quick ratio of 2.08, a current ratio of 2.14 and a debt-to-equity ratio of 1.23. Diana Shipping has a 52 week low of $2.35 and a 52 week high of $3.80. The business has a 50 day moving average price of $2.77 and a 200-day moving average price of $2.90. The company has a market cap of $325.23 million, a price-to-earnings ratio of 11.84 and a beta of 1.14.

Diana Shipping (NYSE:DSX) last posted its quarterly earnings results on Tuesday, May 28th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. Diana Shipping had a net margin of 6.81% and a return on equity of 5.34%. The business had revenue of $54.38 million during the quarter. As a group, equities analysts expect that Diana Shipping will post 0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated a “hold” rating and issued a $3.00 target price on shares of Diana Shipping in a report on Tuesday, May 28th.

About Diana Shipping

Diana Shipping Inc provides shipping transportation services. The company transports a range of dry bulk cargoes, including commodities, such as iron ore, coal, grain, and other materials in shipping routes worldwide. As of March 1, 2024, it operated a fleet of 38 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 5 Post-Panamax, 6 Kamsarmax, 9 Ultramax, and 6 Panamax.