Diana Shipping has repurchased three-quarters of more than five million shares involved in a tender offer announced in late February.
Shareholders sold 3.89 million units out of 5.18 million offered 27 February at $2.80 each, resulting in a $10.9m self-reinvestment by Diana Shipping come yesterday's offer deadline.
The company was looking to recapture $14.5m worth, or 4.9% of company shares, through the undersubscribed offer.
