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

by · The Cerbat Gem

Safe Bulkers, Inc. (NYSE:SB – Get Free Report) announced a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Shareholders of record on Monday, December 2nd will be paid a dividend of 0.05 per share by the shipping company on Tuesday, December 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend is Monday, December 2nd.

Safe Bulkers has a payout ratio of 28.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 2.6 %

Shares of NYSE SB traded down $0.12 during mid-day trading on Thursday, reaching $4.30. The company had a trading volume of 855,079 shares, compared to its average volume of 666,799. 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 twelve month low of $3.40 and a twelve month high of $6.33. The stock’s 50 day moving average is $4.63 and its 200-day moving average is $5.16. The stock has a market capitalization of $458.58 million, a PE ratio of 5.37 and a beta of 0.95.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SB. StockNews.com downgraded Safe Bulkers from a “buy” rating to a “hold” rating in a research note on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and set a $6.00 price objective on shares of Safe Bulkers in a research report on Thursday.

Check Out Our Latest Stock Analysis on Safe Bulkers

Safe Bulkers Company Profile

(Get Free Report)

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.

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