Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 210

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 10
Chunk 210
---
 or the “50% Ownership Test”;

or

•

its stock is

“primarily and regularly” traded

on an established securities

market located

in the United States or a qualified foreign country, or the “ Publicly Traded Test”.

The U. S. Treasury Department has recognized the Marshall Islands,

Panama and Cyprus the countries

of

incorporation of

each of

the Company

and its

subsidiaries

that earns

Shipping Income,

as a

qualified foreign

country.

Accordingly,

the

Company

and

each

of

the

subsidiaries

satisfy

the

Country

of

Organization

Requirement.

For

the

2024

taxable

year,

the

Company

believes

that

it

is

unlikely

that

the

50%

Ownership

Test

was

satisfied.

Therefore,

the

eligibility

of

the

Company

and

each

subsidiary

to

qualify

for

exemption

under

Section 883

of the

Code is

wholly dependent

upon the

Company’s

ability

to

satisfy the

Publicly Traded

Test.

Under

the

Treasury

Regulations,

stock

of

a

foreign

corporation

is

considered

“primarily

traded”

on

an

established

securities market

in

a

country

if

the

number

of

shares of

each

class

of

stock

that

is traded

during the taxable year on

all established securities markets in

that country exceeds the number

of shares

in

each

such

class that

is traded

during that

year

on

established securities

markets in

any

other single

country.

The Company’s

common stock

was “primarily

traded” on

the NYSE

during the

2024 taxable

year.

Under the Treasury Regulations, the Company’s common

stock will be considered to

be “regularly traded”

on the NYSE

if: (1) more than

50% of its

common stock, by voting

power and total

value, is listed

on the

103

NYSE, referred

to as

the “ Listing

Threshold”, (2) its

common stock

is traded

on the

NYSE, other

than in

minimal

quantities, on

at

least