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

Safe Bulkers, Inc. (NYSE:SB) declared a quarterly dividend on Monday, July 29th, Wall Street Journal reports. Investors of record on Wednesday, August 21st will be paid a dividend of 0.05 per share by the shipping company on Thursday, September 5th. This represents a $0.20 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Wednesday, August 21st.

Safe Bulkers has a dividend payout ratio of 25.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Safe Bulkers to earn $0.92 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 21.7%.

Safe Bulkers Stock Performance

Safe Bulkers stock opened at $5.03 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.11 and a current ratio of 2.11. Safe Bulkers has a fifty-two week low of $2.97 and a fifty-two week high of $6.33. The stock has a fifty day moving average of $5.50 and a two-hundred day moving average of $5.16. The company has a market capitalization of $536.49 million, a price-to-earnings ratio of 7.39 and a beta of 0.91.

Safe Bulkers (NYSE:SB) last announced its earnings results on Monday, July 29th. The shipping company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Safe Bulkers had a net margin of 31.11% and a return on equity of 10.78%. The firm had revenue of $78.55 million during the quarter, compared to analyst estimates of $69.16 million. During the same period in the previous year, the firm posted $0.12 EPS. On average, analysts anticipate that Safe Bulkers will post 0.86 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st.

Safe Bulkers Company Profile

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.