Diana Shipping (DSX) declared a cash dividend on its common stock of $0.85 per share up from $0.60 last quarter. The dividend is a 41% increase over the past quarter and will be paid on June 5th to shareholders of record as of May 28th. DSX, a Marshall Islands company is a global shipping company specializing in transporting dry bulk cargoes, including commodities such as iron ore, coal, grain and other materials along worldwide shipping routes.
I started purchasing shares of DSX in 2006 at around $16 a share. I liked the stock because of the increased needs of raw materials of China and India and high dividend yield of around 8%. This stock is very volatile and should not be bought by conservative dividend investors. In the last six months, the stock has gone up over $45 a share and come back down to the mid $20's and back over $35 today. This stock has done well for me but I am sure many people bought the stock high and sold when it dropped quickly after hitting $45.
I will continue to ride the high seas with DSX. I just need to find a way to get to their next annual meeting in Athens.
Here is my review of the stock from 7/15/07. Diana Shipping (DSX): Has the Ship Left Port?