Diana Shipping inc. (NYSE:DSX) Announces $0.01 Quarterly Dividend

Diana Shipping inc. (NYSE:DSX) declared a quarterly dividend on Thursday, July 30th. Investors of record on Friday, August 21st will be paid a dividend of 0.01 per share by the shipping company on Friday, September 11th. This represents a c) annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 21st.

Diana Shipping has a payout ratio of 14.8% meaning its dividend is sufficiently covered by earnings.

Diana Shipping Trading Up 7.2%

Diana Shipping stock traded up $0.15 during midday trading on Thursday, reaching $2.29. The stock had a trading volume of 1,404,967 shares, compared to its average volume of 739,375. The stock’s 50-day simple moving average is $2.25 and its 200 day simple moving average is $2.37. Diana Shipping has a twelve month low of $1.46 and a twelve month high of $2.91. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.69 and a current ratio of 2.73. The stock has a market capitalization of $285.50 million, a PE ratio of 6.56 and a beta of 0.51.

Diana Shipping (NYSE:DSX) last announced its quarterly earnings results on Friday, July 31st. The shipping company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.02 by $0.14. The company had revenue of $57.29 million during the quarter, compared to analyst estimates of $54.60 million. Diana Shipping had a return on equity of 4.56% and a net margin of 20.61%.

Institutional Investors Weigh In On Diana Shipping

A number of large investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its holdings in shares of Diana Shipping by 26.4% during the 1st quarter. Renaissance Technologies LLC now owns 2,984,213 shares of the shipping company’s stock valued at $7,461,000 after buying an additional 622,500 shares during the period. Walleye Capital LLC purchased a new position in Diana Shipping in the 1st quarter worth approximately $1,509,000. First Eagle Investment Management LLC acquired a new stake in Diana Shipping in the fourth quarter valued at approximately $775,000. Arrowstreet Capital Limited Partnership grew its position in Diana Shipping by 586.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 484,951 shares of the shipping company’s stock valued at $1,212,000 after acquiring an additional 414,280 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Diana Shipping by 37,938.7% during the first quarter. Bank of America Corp DE now owns 252,577 shares of the shipping company’s stock valued at $631,000 after purchasing an additional 251,913 shares during the period. Institutional investors and hedge funds own 48.68% of the company’s stock.

About Diana Shipping

Diana Shipping Inc is a global shipping company incorporated in the Republic of the Marshall Islands and headquartered in Athens, Greece. The company specializes in the ownership and operation of dry bulk vessels that transport a variety of commodities, including coal, iron ore, grains, fertilizers, steel products and other bulk materials. Diana Shipping’s fleet comprises Panamax, Capesize, Newcastlemax and Supramax/Newcastlemax segments, enabling it to address the needs of customers on key global trade routes.

The company conducts its operations by chartering vessels on short?term voyage charters and longer?term period charters.