Diana Shipping Inc. (NYSE:DSX) to Issue $0.01 Quarterly Dividend

Diana Shipping Inc. (NYSE:DSX) announced a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Shareholders of record on Wednesday, March 12th will be paid a dividend of 0.01 per share by the shipping company on Friday, March 21st. This represents a $0.04 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, March 12th.

Diana Shipping has raised its dividend payment by an average of 33.0% per year over the last three years. Diana Shipping has a dividend payout ratio of 13.3% indicating that its dividend is sufficiently covered by earnings.

Diana Shipping Stock Performance

Shares of NYSE DSX traded up $0.04 during trading on Wednesday, reaching $1.88. 219,906 shares of the company traded hands, compared to its average volume of 327,822. The company has a quick ratio of 2.04, a current ratio of 2.10 and a debt-to-equity ratio of 1.27. The firm has a 50 day simple moving average of $1.86 and a 200-day simple moving average of $2.13. Diana Shipping has a 52-week low of $1.73 and a 52-week high of $3.22. The stock has a market capitalization of $234.67 million, a PE ratio of 62.52 and a beta of 1.05.

Diana Shipping (NYSE:DSX) last posted its quarterly earnings data on Monday, November 25th. The shipping company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). Diana Shipping had a return on equity of 4.42% and a net margin of 5.36%. The company had revenue of $57.50 million during the quarter, compared to analysts’ expectations of $55.50 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. Diana Shipping’s revenue for the quarter was down 7.4% compared to the same quarter last year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Diana Shipping from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th.

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.