Safe Bulkers, Inc (NYSE:SB) Announces Dividend Increase – $0.07 Per Share

Safe Bulkers, Inc (NYSE:SB) declared a quarterly dividend on Tuesday, July 28th. Investors of record on Thursday, August 13th will be given a dividend of 0.075 per share by the shipping company on Wednesday, August 26th. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, August 13th. This is a 25.0% increase from Safe Bulkers’s previous quarterly dividend of $0.06.

Safe Bulkers has a dividend payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings.

Safe Bulkers Price Performance

Shares of SB opened at $7.49 on Wednesday. The company has a market cap of $765.83 million, a P/E ratio of 16.64 and a beta of 0.84. The stock has a fifty day moving average price of $6.78 and a 200 day moving average price of $6.40. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.37 and a quick ratio of 1.37. Safe Bulkers has a 12 month low of $3.61 and a 12 month high of $7.80.

Safe Bulkers (NYSE:SB) last issued its earnings results on Tuesday, July 28th. The shipping company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.06. The firm had revenue of $87.47 million for the quarter, compared to analyst estimates of $77.50 million. Safe Bulkers had a return on equity of 6.45% and a net margin of 18.73%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its holdings in Safe Bulkers by 77.7% in the first quarter. PNC Financial Services Group Inc. now owns 4,917 shares of the shipping company’s stock worth $31,000 after purchasing an additional 2,150 shares during the period. Tidal Investments LLC lifted its stake in shares of Safe Bulkers by 5.9% in the 2nd quarter. Tidal Investments LLC now owns 43,299 shares of the shipping company’s stock worth $156,000 after acquiring an additional 2,423 shares during the period. DGS Capital Management LLC boosted its holdings in shares of Safe Bulkers by 17.3% in the first quarter. DGS Capital Management LLC now owns 20,918 shares of the shipping company’s stock valued at $132,000 after acquiring an additional 3,079 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Safe Bulkers by 2.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 116,912 shares of the shipping company’s stock valued at $588,000 after acquiring an additional 3,148 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Safe Bulkers by 0.6% during the third quarter. Vanguard Group Inc. now owns 765,593 shares of the shipping company’s stock valued at $3,399,000 after acquiring an additional 4,300 shares during the period. 21.69% of the stock is owned by institutional investors and hedge funds.

About Safe Bulkers

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.