ATHENS, GREECE, July 30, 2025 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today reported net income of $4.5 million and net income attributable to common stockholders of $3.1 million for the second quarter of 2025. This compares to a net loss of $2.8 million and a net loss attributable to common stockholders of $4.2 million for the second quarter of 2024. Earnings per share for the second quarter of 2025 were $0.03 basic and diluted, compared to loss per share of $0.04 basic and diluted in the same quarter of 2024.

Time charter revenues were $54.7 million for the second quarter of 2025, compared to $56.0 million for the same quarter of 2024. The decrease in time charter revenues, compared to the same quarter last year, was due to decreased ownership days and was partly offset by increased average charter rates.

Net income for the six months ended June 30, 2025, amounted to $7.5 million and net income attributable to common stockholders amounted to $4.7 million. This compares to a net loss of $0.7 million and a net loss attributable to common stockholders of $3.6 million for the same period in 2024. Time charter revenues for the six months ended June 30, 2025, were $109.6 million, compared to $113.6 million for the same period in 2024. Earnings per share for the six months ended June 30, 2025 were $0.04 basic and diluted, compared to a loss per share of $0.03 basic and diluted for the same period in 2024.

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 during the quarter ended June 30, 2025. The cash dividend will be payable on September 11, 2025, to all common shareholders of record as of August 21, 2025. As of July 29, 2025, the Company has 115,775,463 common shares issued and outstanding and there were 16,211,330 outstanding warrants.