Diana Shipping releases financial statement and announces ship sale

Earnings per share for 4Q23 was US$0.08 basic and US$0.06 diluted, compared to earnings per share of US$0.28 basic and US$0.27 diluted in the same quarter of 2022.

Time charter revenues were US$60.0 million for the 4Q23, compared to US$75.7 million for the same quarter of 2022. The decrease in time charter revenues, compared to the same quarter of 2022, was due to decreased average charter rates. This decrease was partly offset by increased ownership days that resulted from vessel acquisitions.

Net income for 2023, amounted to US$49.8 million and net income attributed to common stockholders amounted to US$44.1 million. This compares to net income of US$119.1 million and net income attributed to common stockholders of US$113.3 million, for 2022. Time charter revenues for 2023 were US$262.1 million, compared to US$290.0 million for 2022. Earnings per share was US$0.44 basic and US$0.42 diluted, compared to earnings per share of US$1.42 basic and US$1.36 diluted in 2022.

Dividend declaration

The company has also declared a cash dividend on its common stock of US$0.075 per share, based on the company’s results of operations during the fourth quarter ended 31 December 2023. The cash dividend will be payable on or about 12 March 2024 to all shareholders of record as of 5 March 2024. The company currently has 115 996 291 common shares issued and outstanding. As of 16 February 2024, there were 1 940 736 warrants exercised.

Sale of capesize dry bulk vessel

The company also announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement (MOA) to sell to an unaffiliated third party, the 2009-built vessel Houston, with delivery to the buyer by 16 September 2024 at the latest, for a sale price of US$23.3 million before commissions.

Read the article online at: https://www.drybulkmagazine.com/shipping/26022024/diana-shipping-releases-financial-statement-and-announces-ship-sale/