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

Safe Bulkers, Inc. (NYSE:SBGet Rating) declared a quarterly dividend on Wednesday, May 25th, Zacks reports. Stockholders 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 dividend yield of 4.39%. The ex-dividend date is Tuesday, June 7th.

Safe Bulkers has a payout ratio of 17.1% meaning its dividend is sufficiently covered by earnings. Equities 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 NYSE:SB opened at $4.56 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.40 and a debt-to-equity ratio of 0.46. Safe Bulkers has a twelve month low of $2.98 and a twelve month high of $5.44. The stock’s 50 day moving average is $4.31 and its 200-day moving average is $4.01. The firm has a market capitalization of $554.68 million, a price-to-earnings ratio of 3.26 and a beta of 0.72.

Safe Bulkers (NYSE:SBGet Rating) last issued its earnings results on Wednesday, May 25th. The shipping company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the business earned $0.14 EPS. Equities research analysts anticipate that Safe Bulkers will post 1.3 earnings per share for the current fiscal year.

SB has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on Safe Bulkers in a report on Wednesday, April 27th. They set a “hold” rating for the company. StockNews.com initiated coverage on Safe Bulkers in a report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Zacks Investment Research upgraded Safe Bulkers from a “hold” rating to a “buy” rating and set a $5.25 price target for the company in a report on Tuesday, March 29th.

A number of large investors have recently made changes to their positions in SB. Morgan Stanley raised its stake in Safe Bulkers by 97.4% in the 1st quarter. Morgan Stanley now owns 246,015 shares of the shipping company’s stock valued at $603,000 after acquiring an additional 121,389 shares during the period. Invesco Ltd. raised its position 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 raised its position 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 raised its position 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 raised its position in shares of Safe Bulkers by 18.0% in the third quarter. Bank of New York Mellon Corp now owns 197,714 shares of the shipping company’s stock valued at $1,022,000 after purchasing an additional 30,223 shares during the period. Hedge funds and other institutional investors own 24.94% of the company’s stock.

About Safe Bulkers (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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