A $0.10-per-share dividend declared by Diana Shipping in connection with a public spin-off is expected to become a regular feature, a leading analyst said on Thursday.

New York-listed Diana declared the payout, its first since 2008, as part of its announcement on Tuesday that it is spinning off older vessels into a separate Nasdaq-traded entity called OceanPal.

Jefferies lead shipping analyst Randy Giveans told clients that while Diana has not declared a dividend policy as such, he expects the payout will stick around.