Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 58

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 3
Chunk 58
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 facilities, our

35

growth strategy and other

cash needs, the requirements

of Marshall Islands law

and other factors deemed

relevant

to

our

board

of

directors.

In

addition,

other

external

factors,

such

as

our

lenders

imposing

restrictions on our

ability to pay

dividends.

Under the terms

of our agreements,

we may not

be permitted

to

pay

dividends

that

would

result

in

an

event

of

default

or

if

an

event

of

default

has

occurred

and

is

continuing.

Our strategy contemplates that we will finance the acquisition of additional vessels through a combination

of debt

and equity

financing on

terms acceptable

to us.

If financing

is not

available to

us on

acceptable

terms, our board

of directors

may determine to

finance or refinance

acquisitions with cash

from operations,

which could also reduce or even eliminate the amount of cash available

for the payment of dividends.

Marshall

Islands

law

generally

prohibits

the

payment

of

dividends

other

than

from

surplus

(retained

earnings and

the excess

of consideration

received for

the sale

of shares

above the

par value

of the

shares),

or while

a company

is insolvent

or would

be rendered

insolvent by

the payment

of such

a dividend.

We

may not have sufficient surplus in the future to pay dividends.

In

addition, our

ability to

pay dividends

to holders

of our

common shares

will be

subject to

the rights

of

holders

of

our

Series

B

Preferred

Shares,

which

rank

senior

to

our

common

shares

with

respect

to

dividends,

distributions and

payments

upon

liquidation. No

cash dividend

may

be

paid

on

our

common

stock unless full cumulative dividends have been or contemporaneously are being paid or provided for on

all outstanding

Series B

Preferred Shares

for all

prior and

the then-ending

dividend periods.

Cumulative

dividends

on

our

Series

B

Preferred

Shares

accrue

at

a

rate