viewDiana Shipping

Diana Shipping launches tender offer for up to 2 million of its shares

The Greece-based dry bulk shipper priced the offer at $3.25 per share

The purchase represents about 2% of the company’s outstanding shares

Diana Shipping Inc (NYSE:DSX) announced Friday it has launched a tender offer to purchase up to 2 million shares of its common stock for $3.25 per share.

The share purchase represents about 2% of the dry bulk shipping company’s outstanding common shares, using funds available from its cash and cash equivalents pool.

Diana Shipping reported in May that it had about $1.2 million in total assets, including cash and cash equivalents.

READ: Genco shares pop after drybulk shipping specialist sails past Street's 4Q estimates

“The board of directors determined that it is in the company’s best interest to repurchase shares at this time given Diana Shipping’s cash position and stock price,” the Athens, Greece-based shipper said in a statement.

The tender offer will expire at 5 p.m. EST on July 16.

Diana’s stock recently traded up 3.5% to $3.06 a share.

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Quick facts: Diana Shipping

Price: 2.65 USD

Market: NYSE
Market Cap: $238.64 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Full interview: Co-Diagnostics expects to win a CE mark-validated...

Co-Diagnostics Inc (NASDAQ:CODX) CEO Dwight Egan tells Proactive the Utah-based company expects to achieve a CE mark validation on its coronavirus detection test from the European Union by as early as next week. Egan says the company is very enthused by the entire process of the development...

1 day, 11 hours ago

2 min read