Safe Bulkers, Inc. (NYSE:SB) Plans Quarterly Dividend of $0.05

Safe Bulkers, Inc. (NYSE:SBGet Rating) declared a quarterly dividend on Wednesday, May 25th, Zacks reports. Stockholders of record on Wednesday, June 8th will be paid a dividend of 0.05 per share by the shipping company on Wednesday, June 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date is Tuesday, June 7th.

Safe Bulkers has a payout ratio of 17.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Safe Bulkers to earn $1.27 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 15.7%.

Shares of NYSE:SB opened at $4.56 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.40 and a debt-to-equity ratio of 0.46. Safe Bulkers has a twelve month low of $2.98 and a twelve month high of $5.44. The stock’s 50 day moving average is $4.31 and its 200-day moving average is $4.01. The firm has a market capitalization of $554.68 million, a price-to-earnings ratio of 3.26 and a beta of 0.72.

Safe Bulkers (NYSE:SBGet Rating) last announced its quarterly earnings results on Wednesday, May 25th. The shipping company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.04). Safe Bulkers had a return on equity of 26.49% and a net margin of 52.99%. During the same period in the prior year, the company posted $0.14 EPS. Equities research analysts anticipate that Safe Bulkers will post 1.3 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. raised its position in shares of Safe Bulkers by 1,074.3% in the first quarter. Advisor Group Holdings Inc. now owns 8,220 shares of the shipping company’s stock valued at $39,000 after purchasing an additional 7,520 shares during the period. Mirabella Financial Services LLP bought a new stake in shares of Safe Bulkers in the first quarter valued at approximately $56,000. Citigroup Inc. increased its holdings in Safe Bulkers by 124.0% during the 4th quarter. Citigroup Inc. now owns 16,170 shares of the shipping company’s stock worth $61,000 after acquiring an additional 8,951 shares during the period. Toroso Investments LLC increased its holdings in Safe Bulkers by 24.6% during the 4th quarter. Toroso Investments LLC now owns 16,828 shares of the shipping company’s stock worth $63,000 after acquiring an additional 3,319 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in Safe Bulkers during the 1st quarter worth approximately $70,000. Hedge funds and other institutional investors own 24.94% of the company’s stock.

A number of brokerages have issued reports on SB. Zacks Investment Research upgraded Safe Bulkers from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a research note on Tuesday, March 29th. Jefferies Financial Group began coverage on Safe Bulkers in a research note on Wednesday, April 27th. They issued a “hold” rating for the company. Finally, StockNews.com began coverage on Safe Bulkers in a research note on Thursday, March 31st. They issued a “buy” rating for the company.

About Safe Bulkers (Get Rating)

Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of March 18, 2022, the company had a fleet of 40 drybulk vessels having an average age of 10.4 years; and an aggregate carrying capacity of 3,925,500 deadweight tons.

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Dividend History for Safe Bulkers (NYSE:SB)

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