If my wife knew how smitten I am with a Greek girl named Diana, she might just be jealous.

Before I get into trouble, let me clarify that I'm referring to Diana Shipping (NYSE:DSX), the dry bulk shipper with an alluring dividend. Diana flirted with investors everywhere by reporting another steel-hulled quarter Thursday.

Thanks to rising charter rates and a larger fleet, Diana was able to more than double net income to $56.7 million, which led the company to issue its 10th straight quarterly dividend increase to $0.91. Trading at about $29 per share, that amounts to a 12% annualized yield.

On the strength of time charters already secured through the remainder of 2008, Diana raised revenue guidance for the full year beyond analyst expectations to between $329 million and $333 million. All six of the company's massive "Capesize" vessels are chartered until at least 2011.

Furthermore, the company's outlook for "favorable long-term dynamics of the dry bulk industry" is supported by robust demand for shipping of commodities like coal being observed by rail shippers like Norfolk Southern (NYSE:NSC) and Canadian National (NYSE:CNI). And, of course, there's also the continued strong numbers coming out of peers Excel Maritime (NYSE:EXM), Navios Maritime (NYSE:NM), and DryShips (NASDAQ:DRYS).

I have no reservations about suggesting that Fools give Diana a closer inspection. Considering these impressive quarterly results, solid fleet utilization looking forward, a 12% dividend yield, and a favorable outlook for the sector at large, I believe Diana will continue to flirt with investors for some time to come.

Further Foolishness:

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Fool contributor Christopher Barker captains yachts and writes about stocks. He can also be found blogging actively and acting Foolishly within the CAPS community under the username TMFSinchiruna. He owns shares of BHP Billiton and Diana Shipping. The Motley Fool has a disclosure policy.