Diana Shipping Inc. (NYSE:DSX) Plans Quarterly Dividend of $0.01

Diana Shipping Inc. (NYSE:DSX) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Wednesday, March 12th.

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

Diana Shipping Stock Up 1.9 %

Shares of DSX stock traded up $0.04 during trading hours on Wednesday, reaching $1.88. The company had a trading volume of 180,256 shares, compared to its average volume of 326,462. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.10 and a quick ratio of 2.04. The company has a market cap of $234.67 million, a price-to-earnings ratio of 62.52 and a beta of 1.05. The business has a fifty day simple moving average of $1.86 and a 200-day simple moving average of $2.13. Diana Shipping has a 12 month low of $1.73 and a 12 month high of $3.22.

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

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Diana Shipping from a “sell” rating to a “hold” rating in a research note 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.