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

Safe Bulkers, Inc. (NYSE:SB) declared a quarterly dividend on Monday, April 29th, 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 yield of 4.01%. The ex-dividend date of this dividend is Thursday, May 16th.

Safe Bulkers Stock Down 3.0 %

Shares of SB traded down $0.15 during mid-day trading on Tuesday, reaching $4.99. The company’s stock had a trading volume of 723,781 shares, compared to its average volume of 834,103. The stock has a market cap of $556.38 million, a PE ratio of 8.30 and a beta of 1.02. Safe Bulkers has a 12-month low of $2.97 and a 12-month high of $5.24. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.63 and a quick ratio of 2.33. The company’s 50 day moving average is $4.83 and its 200 day moving average is $4.14.

Safe Bulkers (NYSE:SB) last issued its earnings results 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 return on equity of 9.05% and a net margin of 27.20%. The company had revenue of $81.67 million for the quarter. During the same quarter in the prior year, the firm earned $0.10 EPS. Equities analysts anticipate that Safe Bulkers will post 0.85 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Jefferies Financial Group raised Safe Bulkers from a “hold” rating to a “buy” rating and upped their target price for the stock 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.