Safe Bulkers, Inc. announced a $0.50 cash dividend for Series C and D Preferred Shares payable January 30, 2025.
Quiver AI Summary
Safe Bulkers, Inc. announced a cash dividend of $0.50 per share for its 8.00% Series C and Series D Cumulative Redeemable Perpetual Preferred Shares, covering the period from October 30, 2024, to January 29, 2025. The dividends will be paid on January 30, 2025, to shareholders of record as of January 17, 2025. These dividends are scheduled to be paid quarterly and are subject to the discretion of the Company's Board of Directors, considering factors such as earnings, financial condition, and economic conditions. Safe Bulkers provides marine dry-bulk transportation services globally, with stock listed on the NYSE under specific symbols for common and preferred shares. The press release also includes forward-looking statements about the Company's growth strategy, indicating that actual results may vary due to various market and operational risks.
Potential Positives
- The Company has declared a cash dividend of $0.50 per share on its 8.00% Series C and D Preferred Shares, indicating financial stability and commitment to return value to its shareholders.
- The dividends will be paid to shareholders of record on January 17, 2025, which may enhance investor confidence and interest in the Company's preferred stock.
- This is a continuation of the Company's practice of paying dividends quarterly, reinforcing its reliability and attractiveness as an investment in the marine dry-bulk transportation sector.
Potential Negatives
- The dividends on Series C and D Preferred Shares are subject to the discretion of the Board of Directors, creating uncertainty for investors regarding future dividend payments.
- The forward-looking statements indicate potential risks and uncertainties in the company's growth strategy, which may lead to concerns about future performance and stability.
FAQ
What are the latest cash dividends declared by Safe Bulkers, Inc.?
Safe Bulkers, Inc. declared cash dividends of $0.50 per share on Series C and D Preferred Shares.
When will the dividends be paid to shareholders?
The dividends will be paid on January 30, 2025, to shareholders of record as of January 17, 2025.
What is the rate of the Series C and D Preferred Shares dividends?
The dividend rate for both Series C and D Preferred Shares is 8.00% with a cash payment of $0.50 per share.
How frequently are dividends paid on the Preferred Shares?
Dividends on Series C and D Preferred Shares are payable quarterly in arrears on January, April, July, and October.
What factors affect the declaration of future dividends?
The declaration of future dividends is at the Board's discretion and depends on earnings, financial condition, and cash requirements.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SB Hedge Fund Activity
We have seen 66 institutional investors add shares of $SB stock to their portfolio, and 70 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- LSV ASSET MANAGEMENT added 1,220,461 shares (+221.0%) to their portfolio in Q3 2024
- ACADIAN ASSET MANAGEMENT LLC removed 1,087,490 shares (-47.7%) from their portfolio in Q3 2024
- HARVEY CAPITAL MANAGEMENT INC removed 429,429 shares (-93.5%) from their portfolio in Q3 2024
- SEGALL BRYANT & HAMILL, LLC added 285,728 shares (+inf%) to their portfolio in Q3 2024
- WALLEYE CAPITAL LLC added 214,022 shares (+inf%) to their portfolio in Q3 2024
- MORGAN STANLEY removed 204,495 shares (-25.6%) from their portfolio in Q3 2024
- DENALI ADVISORS LLC added 198,269 shares (+47.4%) to their portfolio in Q3 2024
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Full Release
MONACO, Jan. 03, 2025 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that the Company's Board of Directors has declared:
a cash dividend of $0.50 per share on its 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares (the “Series C Preferred Shares”) (NYSE: SB.PR.C) for the period from October 30, 2024 to January 29, 2025;
a cash dividend of $0.50 per share on its 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares (the “Series D Preferred Shares”) (NYSE: SB.PR.D) for the period from October 30, 2024 to January 29, 2025.
Each dividend will be paid on January 30, 2025 to all shareholders of record as of January 17, 2025 of the Series C Preferred Shares and of the Series D Preferred Shares, respectively. Dividends on the Series C and D Preferred Shares are payable quarterly in arrears on the 30th day (unless the 30
th
falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of January, April, July and October of each year.
The declaration and payment of dividends, if any, will always be subject to the discretion of the Board of Directors of the Company, and will depend on, among other things, the Company’s earnings, financial condition and cash requirements and availability, the Company’s ability to obtain debt and equity financing on acceptable terms as contemplated by the Company’s growth and leverage strategies, the restrictive covenants in the Company’s existing and future debt instruments and global economic conditions.
About Safe Bulkers, Inc.
The Company is an international provider of marine dry-bulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world’s largest users of marine dry-bulk transportation services. The Company’s common stock, series C preferred stock and series D preferred stock are listed on the NYSE, and trade under the symbols “SB”, “SB.PR.C”, and “SB.PR.D”, respectively.
Forward-Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Exchange Act of 1933, as amended, and in Section 21E of the Securities Act of 1934, as amended) concerning future events, the Company’s growth strategy and measures to implement such strategy, including expected vessel acquisitions and entering into further time charters. Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the demand for drybulk vessels, competitive factors in the market in which the Company operates, risks associated with operations outside the United States and other factors listed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
For further information please contact:
Company Contact:
Dr. Loukas Barmparis
President
Safe Bulkers, Inc.
Tel.: +30 2 111 888 400
+357 25 887 200
E-Mail:
directors@safebulkers.com
Investor Relations / Media Contact:
Paul Lampoutis
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, N.Y. 10169
Tel.: (212) 661-7566
Fax: (212) 661-7526
E-Mail:
safebulkers@capitallink.com
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