Safe Bulkers, Inc (SB) to Issue Quarterly Dividend of $0.06 on July 16th

Safe Bulkers, Inc (NYSE:SB) announced a quarterly dividend on Wednesday, June 17th. Stockholders of record on Tuesday, June 30th will be given 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 28.6% meaning its dividend is sufficiently covered by earnings.

Safe Bulkers Price Performance

Shares of SB opened at $6.41 on Friday. The company has a market capitalization of $654.98 million, a P/E ratio of 14.23 and a beta of 0.85. Safe Bulkers has a twelve month low of $3.56 and a twelve month high of $7.38. The company has a quick ratio of 2.63, a current ratio of 1.37 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $6.73 and a 200 day moving average of $6.08.

Safe Bulkers (NYSE:SB) last issued its earnings results on Thursday, June 18th. The shipping company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.10 by $0.08. The business had revenue of $74.39 million for the quarter, compared to the consensus estimate of $65.50 million. Safe Bulkers had a return on equity of 6.45% and a net margin of 18.73%.

Institutional Investors Weigh In On Safe Bulkers

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake in Safe Bulkers by 2.0% during the 1st quarter. Renaissance Technologies LLC now owns 3,557,921 shares of the shipping company’s stock valued at $22,522,000 after buying an additional 68,155 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Safe Bulkers by 30.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,651,114 shares of the shipping company’s stock worth $12,778,000 after buying an additional 617,711 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Safe Bulkers by 5.0% in the second quarter. Ameriprise Financial Inc. now owns 1,314,711 shares of the shipping company’s stock worth $4,739,000 after acquiring an additional 62,931 shares during the period. Bridgeway Capital Management LLC grew its holdings in shares of Safe Bulkers by 3.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,187,934 shares of the shipping company’s stock worth $5,726,000 after acquiring an additional 36,356 shares during the period. Finally, Fearnley Asset Management AS purchased a new stake in Safe Bulkers during the fourth quarter valued at $5,112,000. Hedge funds and other institutional investors own 21.69% of the company’s stock.

Safe Bulkers Company Profile

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.