Safe Bulkers, Inc (NYSE:SB) Raises Dividend to $0.07 Per Share

Safe Bulkers, Inc (NYSE:SB) announced a quarterly dividend on Tuesday, July 28th. Shareholders of record on Thursday, August 13th will be given 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 4.0%. 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 Price Performance

SB stock opened at $7.49 on Wednesday. The stock’s 50 day moving average is $6.78 and its two-hundred day moving average is $6.40. Safe Bulkers has a 52-week low of $3.61 and a 52-week high of $7.80. The company has a market capitalization of $765.83 million, a PE ratio of 16.64 and a beta of 0.84. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.46.

Safe Bulkers (NYSE:SB) last released its 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 company had revenue of $87.47 million during the quarter, compared to analysts’ expectations of $77.50 million. Safe Bulkers had a return on equity of 6.45% and a net margin of 18.73%.

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.