Safe Bulkers, Inc (NYSE:SB) to Issue Quarterly Dividend of $0.06

Safe Bulkers, Inc (NYSE:SB) announced a quarterly dividend on Wednesday, June 17th. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.06 per share by the shipping company on Thursday, July 16th. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a 20.0% increase from Safe Bulkers’s previous quarterly dividend of $0.05.

Safe Bulkers has a payout ratio of 23.8% meaning its dividend is sufficiently covered by earnings.

Safe Bulkers Price Performance

SB stock opened at $6.48 on Thursday. The firm has a 50 day moving average of $6.69 and a 200-day moving average of $6.01. The firm has a market capitalization of $662.84 million, a P/E ratio of 21.61 and a beta of 0.85. Safe Bulkers has a 12 month low of $3.56 and a 12 month high of $7.38. The company has a current ratio of 2.90, a quick ratio of 2.63 and a debt-to-equity ratio of 0.60.

Safe Bulkers (NYSE:SB) last posted its earnings results on Wednesday, June 17th. The shipping company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.08. Safe Bulkers had a net margin of 13.99% and a return on equity of 4.91%. The business had revenue of $65.50 million for the quarter, compared to analyst estimates of $65.50 million.

About Safe Bulkers

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.