Safe Bulkers, Inc (NYSE:SB) Declares Dividend Increase – $0.07 Per Share

Safe Bulkers, Inc (NYSE:SB) declared a quarterly dividend on Tuesday, July 28th. Investors of record on Thursday, August 13th will be paid a dividend of 0.075 per share by the shipping company on Wednesday, August 26th. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date is Thursday, August 13th. This is a 25.0% increase from Safe Bulkers’s previous quarterly dividend of $0.06.

Safe Bulkers has a payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings.

Safe Bulkers Stock Performance

Safe Bulkers stock opened at $7.86 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.37 and a quick ratio of 1.37. Safe Bulkers has a 12 month low of $3.61 and a 12 month high of $7.80. The company has a fifty day moving average price of $6.78 and a two-hundred day moving average price of $6.40. The company has a market cap of $804.17 million, a PE ratio of 17.65 and a beta of 0.84.

Safe Bulkers (NYSE:SB) last posted its quarterly earnings results on Tuesday, July 28th. The shipping company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.22 by $0.06. The business had revenue of $87.47 million during the quarter, compared to analyst estimates of $77.50 million. Safe Bulkers had a net margin of 18.73% and a return on equity of 6.45%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Safe Bulkers from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 29th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.00.

Safe Bulkers Company Profile

Safe Bulkers Inc (NYSE: SB) is a dry bulk shipping company engaged in the ocean transport of commodities such as iron ore, coal, grain, and fertilizers. The company operates a modern fleet of vessels, including Panamax, Supramax and Kamsarmax bulk carriers, designed to serve a variety of trade routes and cargo types. Safe Bulkers’ fleet is employed under both time charter and voyage charter arrangements, offering flexibility to respond to market demand and optimize vessel utilization.

Founded in 2008, Safe Bulkers began trading its shares on the New York Stock Exchange in the same year, establishing itself as a publicly listed provider of dry bulk transportation services.