Safe Bulkers Declares Quarterly Dividends for Series C & D Preferred Shares

TL;DR

**Safe Bulkers just declared preferred stock dividends, signaling stability.**

AI Summary

Safe Bulkers, Inc. (NYSE: SB) declared quarterly dividends on January 4, 2024, for its 8.00% Series C and 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares. This means preferred shareholders will receive their expected fixed income payments. This matters to investors because it confirms the company's commitment to its preferred shareholders, signaling financial stability and potentially making the preferred shares more attractive for income-focused investors.

Why It Matters

This filing confirms Safe Bulkers is maintaining its dividend payments to preferred shareholders, which is a positive sign of financial health and commitment to returning value.

Risk Assessment

Risk Level: low — This filing is a routine dividend declaration for preferred shares, indicating normal business operations and low immediate risk.

Analyst Insight

Investors holding Safe Bulkers preferred shares can expect their regular dividend payments, confirming the income stream. This filing doesn't suggest any immediate change in the company's financial health or strategy, so no immediate action is required for existing holders.

Key Numbers

• 8.00% — Dividend Rate (The fixed annual dividend rate for both Series C and Series D Preferred Shares.)

Key Players & Entities

• Safe Bulkers, Inc. (company) — the company declaring dividends
• Konstantinos Adamopoulos (person) — Chief Financial Officer who signed the report
• 8.00% (dollar_amount) — dividend rate for Series C and Series D Preferred Shares
• January 4, 2024 (date) — date of the press release and filing

Forward-Looking Statements

• Safe Bulkers will continue to pay dividends on its preferred shares in the near term. (Safe Bulkers, Inc.) — high confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.50 — ctors has declared: a cash dividend of $0.50 per share on its 8.00% Series C Cumulat

Filing Documents

• f10424sb6k.htm (6-K) — 15KB
• f10424sb6k001.jpg (GRAPHIC) — 30KB
• 0001317861-24-000001.txt ( ) — 57KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: January 4, 2024 SAFE BULKERS, INC. By: /s/ Konstantinos Adamopoulos Name: Konstantinos Adamopoulos Title: Chief Financial Officer Safe Bulkers, Inc. Declares Quarterly Dividend on its 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares; 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares Monaco January 4, 2024 -- Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that the Company's Board of Directors has declared: a cash dividend of $0.50 per share on its 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares (the Series C Preferred Shares) (NYSE: SB.PR.C) for the period from October 30, 2023 to January 29, 2024; a cash dividend of $0.50 per share on its 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares (the Series D Preferred Shares) (NYSE: SB.PR.D) for the period from October 30, 2023 to January 29, 2024. Each dividend will be paid on January 30, 2024 to all shareholders of record as of January 19, 2024 of the Series C Preferred Shares and of the Series D Preferred Shares, respectively. Dividends on the Series C and D Preferred Shares are payable quarterly in arrears on the 30th day (unless the 30 th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of January, April, July and October of each year. The declaration and payment of dividends, if any, will always be subject to the discretion of the Board of Directors of the Company, and will depend on, among other things, the Companys earnings, financial condition and cash requirements and availability, the Companys ability to obtain debt and equity financing on acceptable terms as contemplated by the Companys growth an

Forward-Looking Statements

Forward-Looking Statements This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and in Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, the Companys growth strategy and measures to implement such strategy, including expected vessel acquisitions and entering into further time charters. Words such as expects, intends, plans, believes, anticipates, hopes, estimates and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, business disruptions due to natural disasters or other events, such as the recent COVID-19 pandemic, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the demand for drybulk vessels, competitive factors in the market in which the Company operates, changes in TCE rates, changes in fuel prices, risks associated with operations outside the United States, general domestic and international political conditions, uncertainty in the banking sector and other related market volatility, disruption of shipping routes due to political events, risks associated with vessel construction and other factors listed from time to time in the Companys filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertakings to release any updates or revisions to any forward-looking statements

View Full Filing

View this 6-K filing on SEC EDGAR