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

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

Safe Bulkers Price Performance

Shares of SB stock traded down $0.15 on Tuesday, reaching $4.99. The company’s stock had a trading volume of 723,056 shares, compared to its average volume of 834,095. The stock’s 50 day simple moving average is $4.83 and its 200-day simple moving average is $4.14. Safe Bulkers has a 12-month low of $2.97 and a 12-month high of $5.24. The company has a quick ratio of 2.33, a current ratio of 2.63 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $556.93 million, a P/E ratio of 8.30 and a beta of 1.02.

Safe Bulkers (NYSE:SB) last posted its quarterly earnings data on Monday, April 29th. The shipping company reported $0.20 earnings per share 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 firm had revenue of $81.67 million for the quarter. During the same quarter last year, the firm posted $0.10 earnings per share. As a group, equities analysts predict that Safe Bulkers will post 0.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group upgraded Safe Bulkers from a “hold” rating to a “buy” rating and raised their price objective for the company from $4.00 to $6.00 in a research 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.