Diana Shipping said on Friday it will buy up to 3.33m of its own common shares at a 9.8% premium to their closing price the previous day.
The offer at $4.50 per share is scheduled to expire on 16 August, the Athens-based company said in a statement. Diana stock closed at $4.10 in New York on Thursday.
“The Board of directors determined that it is in the company’s best interest to repurchase shares at this time given Diana Shipping’s cash position and stock price,” the statement said.
