Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 195

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 7
Chunk 195
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 Mariners Inc.

In

2023,

we

acquired

through

one

of

our

subsidiaries,

Cebu

Shipping

Company

Inc.,

or

Cebu,

24%

of

Cohen

Global

Maritime

Inc.,

or

Cohen,

a

company organized

in

the

Republic of

the

Philippines for

the

purpose of providing manning services to our vessels.

Cohen was renamed Diana Mariners Inc., or Diana

Mariners, in August 2024. As of December 31,

2024, our investment in Diana Mariners amounted to $0.4

million and there

was an amount

of $0.1 million

due from Diana

Mariners. As of

December 31, 2024,

Diana

Mariners did not have any operations.

C.

Interests of Experts and Counsel

Not Applicable.

98

Item 8.

Financial information

A.

Consolidated statements and other financial information

See “ Item 18. Financial Statements.”

Legal Proceedings

We have not been involved in any legal proceedings which may have, or have

had, a significant effect on

our business, financial position,

results of operations

or liquidity, nor are we aware of

any proceedings that

are pending or

threatened which may

have a significant

effect on our

business, financial position, results

of

operations

or

liquidity.

From time

to

time,

we may

be

subject to

legal proceedings

and

claims in

the

ordinary course of business,

principally personal injury

and property casualty

claims. We expect that

these

claims

would be

covered by

insurance, subject

to

customary deductibles.

Those claims,

even if

lacking

merit, could result in the expenditure of significant financial and

managerial resources.

Dividend Policy

Our board

of directors reviews

and amends our

dividend policy from

time to

time in

light of

our business

plans

and

other

factors. In

order

to

position

us

to

take

advantage

of

market

opportunities

in

a

then-

deteriorating

market,

our

board

of

directors,

beginning

with

the

fourth

quarter

of

2008,

suspended

our

common stock dividend. As a result