Diana Shipping Inc. announced its Q3 2023 results, revealing a net income of $7.4 million and $5.9 million attributed to common stockholders, a decline from Q3 2022’s $31.7 million and $30.3 million respectively.
Earnings per share for Q3 2023 were $0.06 basic and diluted, down from $0.39 basic and $0.37 diluted in the same quarter last year.
Empowering Shareholders
Semiramis Paliou, Director and CEO, celebrated the company’s profitable quarter and nine-month period, attributing success to a steadfast long-term strategy.
Notably, since November 2021, shareholders received $1.45 per share in cash dividends totaling $130 million, along with dividends in newly issued Diana Shipping Inc. and OceanPal Inc. shares, underscoring their commitment to enhancing shareholder value.
Financial Performance
- Q3 2023 time charter revenues hit $62.1 million, a decline from $73.8 million in Q3 2022, attributed to lower average charter rates.
- The nine-month period ending September 30, 2023, saw net income at $40.5 million and $36.1 million attributed to common stockholders, down from $93.4 million and $89.1 million respectively in 2022, with time charter revenues totaling $202.1 million compared to $214.3 million in the same period last year.
- Earnings per share for the nine months of 2023 were $0.36 basic and diluted, down from $1.15 basic and $1.10 diluted in 2022.
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Source: Diana Shipping Inc.
