concurrently with the consummation of the spin-off transaction, it will pay a cash dividend in the amount of $0.10 per common share to shareholders as of October 29. The transaction is expected to be completed on or around November 9, 2021.
Semiramis Paliou, CEO of Diana Shipping, said: “Management of Diana Shipping believes that the distribution of a separate, publicly-traded dry bulk company focusing on older vessels with shorter duration charters will further enhance shareholder value by providing greater exposure to the shorter-term charter market while allowing Diana Shipping to continue to focus on its disciplined long-term managed growth. At the same time, the cash dividend of $0.10 for this quarter represents a good indication of the ability of the company to pay a cash dividend on a quarterly basis at current market levels.”
