Safe Bulkers, Inc (SB) To Go Ex-Dividend on November 25th

Safe Bulkers, Inc (NYSE:SB) declared a quarterly dividend on Monday, November 9th. Investors of record on Wednesday, November 25th will be paid a dividend of $0.09 per share by the shipping company on Wednesday, December 9th. This represents a $0.36 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, November 25th. This is a 20.0% increase from Safe Bulkers’s previous quarterly dividend of $0.0750.

Safe Bulkers has a payout ratio of 35.7% indicating that its dividend is sufficiently covered by earnings.

Safe Bulkers Stock Performance

Shares of Safe Bulkers stock opened at $7.57 on Wednesday. Safe Bulkers has a 12 month low of $4.66 and a 12 month high of $9.31. The stock’s fifty day moving average price is $8.29 and its 200-day moving average price is $7.13. The firm has a market cap of $770.45 million, a P/E ratio of 7.93 and a beta of 1.09. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.39.

Safe Bulkers (NYSE:SB) last announced its quarterly earnings results on Monday, November 9th. The shipping company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.03. The firm had revenue of $91.03 million during the quarter, compared to analysts’ expectations of $85.90 million. Safe Bulkers had a net margin of 33.24% and a return on equity of 11.94%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SB. BlackRock Inc. purchased a new position in Safe Bulkers during the second quarter worth about $22,450,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Safe Bulkers in the second quarter valued at approximately $5,690,000. Empowered Funds LLC acquired a new position in shares of Safe Bulkers in the second quarter valued at approximately $4,458,000. Bank of America Corp DE purchased a new stake in Safe Bulkers during the 2nd quarter worth approximately $2,080,000. Finally, Manatuck Hill Partners LLC acquired a new stake in Safe Bulkers during the 2nd quarter worth approximately $1,641,000. 21.69% of the stock is currently owned by institutional investors and hedge funds.

Safe Bulkers Company Profile

Safe Bulkers, Inc. is an international dry-bulk shipping company that owns and operates vessels used to transport commodities by sea. Its fleet serves customers involved in the production and trade of bulk goods. The company’s vessels carry cargoes such as iron ore, coal and grain on routes around the world. Safe Bulkers was established in 2005 and has focused on providing seaborne transportation for these essential commodities. Safe Bulkers is headquartered in Athens, Greece, and its shares trade on the New York Stock Exchange under the symbol SB.