Diana Shipping (DSX) Announces $0.08 Dividend Declaration

Diana Shipping, a global provider of shipping transportation services, announced on February 23, 2024, that its board of directors declared a regular quarterly dividend of $0.08 per share ($0.30 annualized). This marks a significant change from the previous dividend of $0.00 per share. Shareholders of record as of March 5, 2024, will receive the payment on March 12, 2024.

At the current share price of $3.10 per share, the stock’s dividend yield is 9.68%. Looking back over the past five years, the average dividend yield has been 32.16%, with the lowest at 7.48% and the highest at 81.50%. The standard deviation of yields is 18.17, indicating the current dividend yield is 1.24 standard deviations below the historical average.

Additionally, the company’s dividend payout ratio is 1.37, suggesting that the company is paying out more than its income in dividends, which may not be sustainable in the long run.

Analyst price forecasts suggest a 16.81% upside for Diana Shipping, with an average one-year price target of $3.62. The projected annual revenue for the company is expected to increase by 11.39%, with a non-GAAP EPS of 0.96.

In terms of fund sentiment, there are 80 funds or institutions reporting positions in Diana Shipping, with an average portfolio weight of 0.04%. The put/call ratio of DSX is 0.23, indicating a bullish outlook.

Overall, Diana Shipping’s dividend announcement, financial metrics, and analyst forecasts paint a picture of a company with potential for growth and investor interest.