ATHENS, Greece, July 30, 2026 (GLOBE NEWSWIRE) -- 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.”

Non-GAAP Measures

(1)        Time charter equivalent rate, or TCE, is defined as our time charter revenues less voyage expenses for a period divided by the number of our available days for the period. Our method of computing TCE rate may not necessarily be comparable to TCE rates of other companies due to differences in methods of calculation. TCE is a non-GAAP measure, and management believes it is useful to investors because it is a standard shipping industry performance measure used primarily to compare daily earnings generated by vessels on time charters with daily earnings generated by vessels on voyage charters, because charter hire rates for vessels on voyage charters are generally not expressed in per day amounts while charter hire rates for vessels on time charters are generally expressed in such amounts. TCE is used by management to assess and compare the vessel profitability.

(2)        Daily vessel operating expenses, which include crew wages and related costs, the cost of insurance, expenses relating to repairs and maintenance, the costs of spares and consumable stores, tonnage taxes and other miscellaneous expenses, are calculated by dividing vessel operating expenses by ownership days for the relevant period. Management believes daily vessel operating expenses is useful to investors because it provides a standardized, per-vessel metric that enables comparison of operational efficiency across the fleet and against industry. Management uses this measure to monitor and assess the operational performance of vessels.

Conference Call and Webcast Information

The Company’s management will conduct a conference call and simultaneous Internet webcast to review these results at 9:00 A.M. (Eastern Time) on Thursday, July 30, 2026.

Investors may access the webcast by visiting the Company’s website at www.dianashippinginc.com and clicking on the webcast link. An accompanying investor presentation also will be available via the webcast link and on the Company’s website. The conference call also may be accessed by telephone by dialing 1-877-407-8291 (for U.S.-based callers) or 1-201-689-8345 (for international callers) and asking the operator for the Diana Shipping Inc. conference call.

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 forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

(See financial tables attached)

Corporate Contact:
Margarita Veniou
Chief Corporate Development, Governance &
Communications Officer and Secretary
Telephone: + 30-210-9470-100
Email: mveniou@dianashippinginc.com
Website: www.dianashippinginc.com
X: @Dianaship

Investor Relations/Media Contact:
Nicolas Bornozis / Daniela Guerrero
Capital Link, Inc.
230 Park Avenue, Suite 1540
New York, N.Y. 10169
Tel.: (212) 661-7566
Email: diana@capitallink.com