Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 70

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 3
Chunk 70
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 and adversely affected.

We may redeem the

Series B Preferred

Shares, and you

may not be

able to reinvest

the redemption

price you receive in a similar security.

Since February 14, 2019, we

may, at our option, redeem Series B Preferred Shares,

in whole or in part, at

any time or from time to time. We may have an incentive to redeem Series B Preferred Shares voluntarily

if market conditions allow us

to issue other preferred shares

or debt securities at a

rate that is lower than

the dividend

on the

Series B

Preferred Shares.

If we

redeem Series

B Preferred

Shares, then

from and

after the

redemption date,

your dividends

will cease

to accrue

on your

Series B

Preferred Shares,

your

Series B Preferred Shares shall no longer be deemed outstanding and all your rights as a holder of those

shares

will

terminate,

except

the

right

to

receive

the

redemption

price

plus

accumulated

and

unpaid

dividends, if any,

payable upon redemption. If

we redeem the

Series B Preferred

Shares for any

reason,

you may not be able to reinvest the redemption price you receive in a similar

security.

Market interest rates may adversely affect the value of our Series B Preferred

Shares.

One of

the factors that

may influence the

price of

our Series B

Preferred Shares is

the dividend yield

on

the Series B Preferred Shares

(as a percentage of the

price of our Series B

Preferred Shares) relative to

market

interest

rates.

An

increase

in

market

interest

rates,

which

are

currently

at

low

levels

relative

to

historical

rates,

may

lead

prospective

purchasers

of

our

Series

B

Preferred

Shares

to

expect

a

higher

dividend yield, and

higher interest rates

would likely increase

our borrowing costs

and potentially decrease

funds available for

distribution. Accordingly,

higher market

interest rates could

cause the

market price of

our Series B Preferred Shares to decrease.

As a holder of Series B Preferred Shares you have extremely

limited voting rights.

Your voting rights as a holder of Series

B Preferred Shares are

extremely limited. Our common

shares are

the only outstanding class or series of our shares