Safe Bulkers, Inc (SB) to Issue Quarterly Dividend of $0.07 on August 26th

Safe Bulkers, Inc (NYSE:SB) announced a quarterly dividend on Tuesday, July 28th. Stockholders 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 dividend 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 payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings.

Safe Bulkers Stock Up 1.3%

SB opened at $7.57 on Thursday. The stock has a market cap of $773.60 million, a PE ratio of 9.70 and a beta of 0.84. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.46. Safe Bulkers has a 52 week low of $3.61 and a 52 week high of $8.05. The business’s fifty day simple moving average is $6.80 and its 200 day simple moving average is $6.41.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings results on Tuesday, July 28th. The shipping company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.06. Safe Bulkers had a return on equity of 9.73% and a net margin of 28.29%.The firm had revenue of $87.47 million during the quarter, compared to analyst estimates of $77.50 million.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Safe Bulkers from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Safe Bulkers presently has a consensus rating of “Hold” and a consensus target price of $6.00.

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.