Safe Bulkers, Inc. (NYSE:SB) Plans $0.05 Quarterly Dividend

Safe Bulkers, Inc. (NYSE:SBGet Rating) announced a quarterly dividend on Wednesday, May 25th, Zacks reports. Shareholders of record on Wednesday, June 8th will be paid a dividend of 0.05 per share by the shipping company on Wednesday, June 15th. This represents a $0.20 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date is Tuesday, June 7th.

Safe Bulkers has a dividend payout ratio of 17.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Safe Bulkers to earn $1.27 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 15.7%.

Shares of SB opened at $4.56 on Friday. The firm has a market cap of $554.68 million, a PE ratio of 3.26 and a beta of 0.72. The company has a current ratio of 1.40, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $4.31 and a two-hundred day simple moving average of $4.01. Safe Bulkers has a 1-year low of $2.98 and a 1-year high of $5.44.

Safe Bulkers (NYSE:SBGet Rating) last posted its quarterly earnings data on Wednesday, May 25th. The shipping company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.04). Safe Bulkers had a return on equity of 26.49% and a net margin of 52.99%. During the same period in the previous year, the business earned $0.14 earnings per share. As a group, research analysts forecast that Safe Bulkers will post 1.3 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the business. Morgan Stanley lifted its stake in shares of Safe Bulkers by 97.4% during the 1st quarter. Morgan Stanley now owns 246,015 shares of the shipping company’s stock worth $603,000 after purchasing an additional 121,389 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Safe Bulkers by 13.1% in the third quarter. Invesco Ltd. now owns 148,688 shares of the shipping company’s stock valued at $769,000 after purchasing an additional 17,198 shares during the period. UBS Group AG increased its holdings in shares of Safe Bulkers by 308.1% in the third quarter. UBS Group AG now owns 133,619 shares of the shipping company’s stock valued at $691,000 after purchasing an additional 100,874 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Safe Bulkers by 73.6% in the third quarter. BNP Paribas Arbitrage SA now owns 20,440 shares of the shipping company’s stock valued at $106,000 after purchasing an additional 8,663 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Safe Bulkers by 18.0% during the third quarter. Bank of New York Mellon Corp now owns 197,714 shares of the shipping company’s stock worth $1,022,000 after acquiring an additional 30,223 shares during the period. Institutional investors and hedge funds own 24.94% of the company’s stock.

Several research analysts have commented on the stock. Jefferies Financial Group started coverage on shares of Safe Bulkers in a report on Wednesday, April 27th. They set a “hold” rating for the company. Zacks Investment Research raised Safe Bulkers from a “hold” rating to a “buy” rating and set a $5.25 price objective on the stock in a research report on Tuesday, March 29th. Finally, StockNews.com initiated coverage on Safe Bulkers in a research report on Thursday, March 31st. They issued a “buy” rating on the stock.

Safe Bulkers Company Profile (Get Rating)

Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of March 18, 2022, the company had a fleet of 40 drybulk vessels having an average age of 10.4 years; and an aggregate carrying capacity of 3,925,500 deadweight tons.

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Dividend History for Safe Bulkers (NYSE:SB)

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