DIANA SHIPPING INC. REPORTS FINANCIAL RESULTS FOR THE SECOND QUARTER AND SIX MONTHS ENDED JUNE 30, 2026; AND DECLARES CASH DIVIDEND OF $0.01 PER COMMON SHARE
FOR THE SECOND QUARTER 2026
ATHENS, GREECE, July 30, 2026 – Diana Shipping Inc. (NYSE: DSX), (the “Company” or “Diana”), a
global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today
reported net income of $20.8 million and net income attributable to common stockholders of $19.3 million
for the second quarter of 2026. This compares to net income of $4.5 million and net income attributable to
common stockholders of $3.1 million for the second quarter of 2025. Earnings per share for the second
quarter of 2026 were $0.17 basic and $0.16 diluted, compared to $0.03 basic and diluted in the same
quarter of 2025.
Time charter revenues were $57.3 million for the second quarter of 2026, compared to $54.7 million for the
same quarter of 2025. The increase in time charter revenues, compared to the same quarter of the prior
year, was due to higher average charter rates and was partially offset by decreased ownership days
following the sale of one vessel during the third quarter of 2025.
Net income for the six months ended June 30, 2026, amounted to $49.9 million and net income attributable
to common stockholders amounted to $47.0 million. This compares to net income of $7.5 million and net
income attributable to common stockholders of $4.7 million for the same period in 2025. Time charter
revenues for the six months ended June 30, 2026, were $112.0 million, compared to $109.6 million for the
same period in 2025. Earnings per share for the six months ended June 30, 2026 were $0.42 basic and
$0.41 diluted, compared to $0.04 basic and diluted for the same period in 2025.
Dividend Declaration
The Company has declared a cash dividend on its common stock of $0.01 per share, based on the
Company’s results of operations for the quarter ended June 30, 2026. The cash dividend will be payable
on September 11, 2026, to all common shareholders of record as of August 21, 2026. The declaration and
payment of future dividends are subject to the sole discretion of the Company’s board of directors and will
depend on, among other things, the Company’s earnings, financial condition, cash requirements and future
business prospects. As of July 29, 2026, the Company had 124,413,717 common shares issued and
outstanding and 15,682,971 warrants outstanding.
Statement on Recent Developments
Semiramis Paliou, Diana’s Chief Executive Officer, commented:
“We believe the market’s attention has been disproportionately focused on the proposed acquisition of
Genco, diverting attention from Diana’s own intrinsic value and underlying operating performance.
These results clearly demonstrate that Diana’s business continues to perform strongly, with improving
profitability, healthy cash generation and meaningful operating momentum. Under normal circumstances,
such performance would be expected to receive far greater recognition from the market.
Instead, Diana continues to trade at a substantial discount to its NAV. We believe this valuation no longer
reflects the Company’s underlying fundamentals, earnings power or asset quality. As investors increasingly
refocus on Diana’s standalone performance and intrinsic value, we believe this discount should
progressively narrow.
Looking further ahead, should the proposed transaction with Genco be completed, the combined company
would represent a substantially larger, more diversified and more liquid platform. While no valuation
outcome can be assumed, we believe such a company would naturally be evaluated under a different
valuation framework than Diana on a standalone basis.
We believe Diana’s current valuation represents a compelling opportunity for investors to benefit from the
Company’s improving operating performance and the potential for a gradual re-rating over time.”
8Estimated date.
9The charter rate was US$13,000 per day for the first thirty (30) days of the charter period.
10The charter rate was US$6,300 per day for the first trip of the charter period.
11Bareboat chartered-in for a period of eight years
A replay of the webcast will be available soon after the completion of the call and will be accessible for 30
days on www.dianashippinginc.com. A telephone replay also will be available for 30 days by dialing 1-877-
660-6853 (for U.S.-based callers) or 1-201-612-7415 (for international callers) and providing the Replay ID
number 13761711.
About the Company
Diana Shipping Inc. is a global provider of shipping transportation services through its ownership and
bareboat charter-in of dry bulk vessels. The Company’s vessels are employed primarily on short to
medium-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.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to
encourage companies to provide prospective information about their business. Forward-looking statements
include statements concerning plans, objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than statements of historical facts.
The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation.
The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,”
“should,” “expect,” “pending” and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which
are based, in turn, upon further assumptions, including without limitation, Company management’s
examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when
made, because these assumptions are inherently subject to significant uncertainties and contingencies
that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot
assure you that it will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in the Company’s view, could cause
actual results to differ materially from those discussed in the forward-looking statements include the
strength of world economies and currencies, general market conditions, including fluctuations in charter
rates and vessel values, changes in demand for dry bulk shipping capacity, changes in the Company’s
operating expenses, including bunker prices, drydocking and insurance costs, the market for the
Company’s vessels, availability of financing and refinancing, changes in governmental rules and
regulations or actions taken by regulatory authorities, tariff policies and other trade restrictions, potential
liability from pending or future litigation, general domestic and international political conditions, including
risks associated with the continuing conflict between Russia and Ukraine and related sanctions, potential
disruption of shipping routes due to accidents or political events, including the escalation of the conflict in
the Middle East, vessel breakdowns and instances of off-hires and other factors. Please see the Company’s
filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and
other risks and uncertainties. The Company undertakes no obligation to revise or update any forwardlooking statement, or to make any other forward-looking statements, whether as a result of new information,
future events or otherwise.
(See financial tables attached)
