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

Safe Bulkers, Inc. (NYSE:SB) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Investors of record on Friday, May 17th will be paid a dividend of 0.05 per share by the shipping company on Thursday, May 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Thursday, May 16th.

Safe Bulkers Stock Down 2.9 %

NYSE:SB traded down $0.15 during mid-day trading on Tuesday, hitting $4.99. 723,056 shares of the company’s stock traded hands, compared to its average volume of 834,095. The company has a fifty day moving average of $4.83 and a 200 day moving average of $4.14. Safe Bulkers has a twelve month low of $2.97 and a twelve month high of $5.24. The company has a market capitalization of $556.93 million, a P/E ratio of 8.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.63.

Safe Bulkers (NYSE:SB) last announced its earnings results on Monday, April 29th. The shipping company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). Safe Bulkers had a net margin of 27.20% and a return on equity of 9.05%. The business had revenue of $81.67 million for the quarter. During the same quarter in the prior year, the company earned $0.10 earnings per share. On average, analysts forecast that Safe Bulkers will post 0.85 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised Safe Bulkers from a “hold” rating to a “buy” rating and increased their price objective for the company from $4.00 to $6.00 in a report on Tuesday, February 27th.

About Safe Bulkers

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. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.