Diana Containerships reported a net loss of $5.8 million for the first quarter of 2016, compared to a net loss of $0.5 million for the respective period of 2015.
Time charter revenues, net of prepaid charter revenue amortization, were $11.8 million for the first quarter of 2016, compared to $13.9 million for the same period of 2015, mainly due to reduced time charter rates and increased off-hire days, partly offset by revenues derived from the increase in ownership days resulting from the enlargement of our fleet.
The Company has declared a cash dividend on its common stock of $0.0025 per share with respect to the first quarter of 2016. The cash dividend will be payable on or around June 15, 2016 to all shareholders of record as of May 31, 2016. As of March 31, 2016, the Company had 74,890,570 shares of common stock issued and outstanding.