Safe Bulkers, Inc (NYSE:SB) Declares Quarterly Dividend of $0.06

Safe Bulkers, Inc (NYSE:SB) announced a quarterly dividend on Wednesday, June 17th. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.06 per share by the shipping company on Thursday, July 16th. This represents a c) annualized dividend and a 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 dividend payout ratio of 23.8% indicating that its dividend is sufficiently covered by earnings.

Safe Bulkers Price Performance

Shares of NYSE SB opened at $6.48 on Thursday. The stock’s 50-day moving average is $6.69 and its two-hundred day moving average is $6.01. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.63. Safe Bulkers has a 1-year low of $3.56 and a 1-year high of $7.38. The company has a market cap of $662.84 million, a price-to-earnings ratio of 21.61 and a beta of 0.85.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings results on Wednesday, June 17th. The shipping company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.08. Safe Bulkers had a return on equity of 4.91% and a net margin of 13.99%.The company had revenue of $65.50 million for the quarter, compared to the consensus estimate of $65.50 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC boosted its position in shares of Safe Bulkers by 189.7% during the 1st quarter. Parallel Advisors LLC now owns 12,404 shares of the shipping company’s stock worth $79,000 after acquiring an additional 8,122 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Safe Bulkers by 90.4% during the 1st quarter. Bank of America Corp DE now owns 452,122 shares of the shipping company’s stock worth $2,862,000 after acquiring an additional 214,652 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Safe Bulkers by 2.8% during the 1st quarter. Empowered Funds LLC now owns 663,731 shares of the shipping company’s stock worth $4,201,000 after acquiring an additional 17,897 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Safe Bulkers by 14.7% during the 1st quarter. Quantinno Capital Management LP now owns 43,114 shares of the shipping company’s stock worth $273,000 after acquiring an additional 5,531 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Safe Bulkers during the 1st quarter worth about $1,625,000. 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.