Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 68

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 3
Chunk 68
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changes in

our operating

cash flow, capital expenditure

requirements, working

capital requirements

and other cash needs;

●

restrictions under our existing or future credit facilities or any future debt securities on our

ability to

pay dividends if an

event of default has

occurred and is

continuing or if

the payment of the

dividend

would result in

an event of

default, or under

certain facilities

if it would

result in the

breach of certain

financial covenants;

●

the amount of any cash reserves established by our board of directors;

and

●

restrictions under

Marshall Islands

law,

which 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.

The amount of cash we generate from our operations may differ materially

from our net income or loss for

the period, which

is affected by

non-cash items, and

our board of

directors in its discretion

may elect not

to declare

any dividends.

As a

result of

these and

the other

factors mentioned

above, we

may pay

dividends

during

periods

when

we

record

losses

and

may

not

pay

dividends

during

periods

when

we

record

net

income.

The Series B Preferred Shares represent perpetual equity

interests.

The Series B

Preferred Shares represent

perpetual equity interests

in us and,

unlike our indebtedness,

will

not give

rise to

a claim for

payment of a

principal amount at

a particular date.

As a

result, holders of

the

Series

B Preferred

Shares may

be required

to

bear the

financial risks

of

an investment

in the

Series B

Preferred Shares for an indefinite period

of time. In addition, the Series B

Preferred Shares will rank junior

to all our

indebtedness and other

liabilities, and to

any other senior

securities we may

issue in the

future

with respect to assets available to satisfy claims against us.

Our Series

B Preferred

Shares are