Diana Shipping Inc. Announces New Distribution Date for Previously Announced OceanPal Inc. Spin-Off and Confirms Payment Date of US$0.10 Cash Dividend
ATHENS, GREECE, November 9, 2021 – Diana Shipping Inc. (NYSE: DSX) (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that in connection with the previously announced spin-off of its wholly-owned subsidiary OceanPal Inc., the Company has changed the anticipated distribution date from November 9, 2021 to November 17, 2021 due to procedural delays. The Company does not expect there to be any other changes to the terms of the spin-off transaction previously announced in the Company’s press release dated October 26, 2021 and in the OceanPal Inc. registration statement on Form 20-F filed with the US Securities and Exchange Commission, which has not yet become effective. The record date of the OceanPal Inc. spin-off will not change. Additionally, there has been no change to the previously announced payment date of November 10, 2021 of a cash dividend in the amount of US$0.10 per Diana Shipping Inc. common share to shareholders of record as of November 3, 2021.
Additional information about OceanPal Inc. and the spin-off transaction can be found in the registration statement on Form 20-F pursuant to the Securities Exchange Act of 1934 filed by OceanPal Inc. in connection with the spin-off transaction that is available at www.sec.gov. The information in the filed registration statement on Form 20-F is not final and remains subject to change, and the consummation of the spin-off transaction remains subject to the registration statement on Form 20-F being declared effective by the U.S. Securities and Exchange Commission.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale of any security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to consummation of the spin-off transaction.
About the Company
Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.
