The “OK” from the American stock market authorities was received by Diana Shipping for the listing of Oceanpal Inc on the Nasdaq Capital Market with the symbol “OP”.
The Palios Family Shipping Company has announced the creation of a new company, OceanPal Inc., which will operate as a portfolio company with three dry bulk carriers spin-off from Diana Shipping’s fleet.
The three ships are the oldest in Diana Shipping’s fleet. Along with the ships in the new company, Diana Shipping will contribute $ 1 million in working capital and will sell all of OceanPal shares to Diana Shipping shareholders, who will also receive preferred shares of OceanPal Inc. Diana Shipping also announced that in parallel with the completion of the spin-off transaction, it will distribute a dividend of $ 0.10 per share.
The Company also announces that the previously announced date of the withdrawal of OceanPal Inc. and a $ 0.10 cash dividend payment per share of Diana Shipping Inc. has been transferred on November 3, 2021. The Company expects to complete the distribution of common shares of OceanPal Inc. at a rate of one share of OceanPal Inc. for every 10 shares of Diana Shipping Inc. held on the Date of Registration on November 9, 2021 and the date of payment of the dividend in cash will be November 10, 2021.
Commenting on the spin-off transaction, the CEO of Diana Shipping, Ms. Semiramis Paliou, had stated that the divestment of 100% of the common shares of OceanPal Inc., “represents a significant return on value to our shareholders, reflecting the ability of the company to take advantage of the strong bulk dry cargo market “.
Diana Shipping management also believes that the creation of “a separate listed bulk cargo company focusing on older ships with shorter charter times will further enhance shareholder value by providing greater exposure to the short-term charter market, while allowing Diana Shipping to continue focus on long-term development.
Finally, the dividend of $ 0.10 per share for the current quarter represents a good indication of the Company’s ability to pay dividends on a quarterly basis at current market levels.
Το μεγάλο deal που έρχεται, οι επιστρεπτέες που φτάνουν, το landmark της Κηφισίας, και η κεντροαριστερή «νύφη»
The bill for offshore wind farms is up for public consultation
It is envisaged that the parks will be awarded through competitive processes
Producer price index leaps by 43% in May
What the stats show
MRB Trends: 7.2% ND lead in voter intention – What citizens see as the main problems
According to the MRB survey, the "gap" between ND and SYRIZA is closing, although the ruling party has a lead of 7.2%.
Jumbo: Sales up by +12.8% in the first half
The company and the crisis
Tourism: Large hotels hit by “great resignation” – Now hiring just about anyone
The tourist season is reaching its peak, but many hotels both in Greece and in Europe are running out of workers
Tankers collide off Karystos
No serious damage or pollution
PPC-ELLINOIL: Installing 100 electric car charging points
The plan of the two companies in the framework of the MoU, which was signed a year ago, entered the implementation phase. Why is the input output system not working at gas stations?
Sismanoglio Hospital: People in doctors’ garb blow up ATM, cause serious damage
The perpetrators held guard at bay
Dimand scoops up the last large plot on Kifisias Avenue
Dimitris Andriopoulos acquired 1.1 hectares on Kifissias Ave. and the state of the art office building will be leased to PWC
Cargo ship takes on water west of Pylos
Hellenic Navy chopper picks up crew