Safe Bulkers Unveils $3 Million Share Buyback Initiative

Author: Owen Jenkins Updated: 02-24-2025 04:15 PM

Safe Bulkers Announces Stock Repurchase Plan

Safe Bulkers, Inc. is excited to share a newly authorized program allowing it to repurchase up to 3 million shares of its common stock. This initiative highlights the company's commitment to enhancing shareholder value while managing its resources effectively.

Details of the Repurchase Program

The repurchase program represents approximately 2.8% of Safe Bulkers' outstanding shares and a notable 5.4% of its public float. This strategy aims to take advantage of market conditions over time and is set to replace any previous repurchase programs that the company had in place.

Flexible Execution of Share Purchases

It's important to note that the program does not obligate Safe Bulkers to buy any specific number of shares. The company retains the flexibility to modify or halt the program as needed, ensuring its operations align with prevailing market conditions and investor needs.

Financial Resources and Compliance

Safe Bulkers plans to fund these repurchases using cash on hand. All purchases will be executed in full compliance with laws and regulations, adhering to the safe harbor provisions outlined in Regulation 10b-18 of the Securities Exchange Act of 1934.

About Safe Bulkers, Inc.

Safe Bulkers, Inc. is a prominent provider of marine drybulk transportation services. The company specializes in transporting essential commodities like coal, grain, and iron ore across global shipping routes. Safe Bulkers is publicly traded on the NYSE under the ticker symbol "SB," along with its Series C and Series D preferred stocks under "SB.PR.C" and "SB.PR.D" respectively.

Contact Information for Inquiries

For further inquiries, Dr. Loukas Barmparis, the President of Safe Bulkers, is available for contact. He can be reached by telephone at +30 2 111 888 400 or +357 25 887 200. For email communication, he is accessible at directors@safebulkers.com.

Shareholder Engagement and Future Outlook

This repurchase program signals Safe Bulkers' intention to foster strong relationships with its shareholders. The company is poised to explore future growth possibilities, including potential fleet expansions and charters, ensuring it remains competitive in the marine transportation sector.

Frequently Asked Questions

What is the purpose of the stock repurchase program?

The program aims to enhance shareholder value and respond to market conditions effectively.

How many shares can Safe Bulkers repurchase?

Safe Bulkers is authorized to repurchase up to 3 million shares of its common stock.

What financial resources will be used for stock repurchases?

The repurchases will be funded using the company's existing cash resources.

Is there an obligation to repurchase shares?

No, the program does not obligate the company to repurchase any specific number of shares.

How will the repurchases be executed?

All purchases will comply with applicable laws and regulations and will be conducted in the open market.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

My love is teaching others about investing and personal finance. My goal in writing many books and articles has been to demystify financial ideas and give readers the information they need to make wise financial decisions. I write with a direct, useful style that emphasizes doable suggestions for daily living.

Along with writing, I lead webinars and seminars where I impart knowledge on how to successfully negotiate the financial world. I also write for financial journals and show up as a guest expert on financial news programs a lot. Whether they are new to investing or want to improve their approach, my mission is to enable people to take charge of their financial futures.

Beyond work, I like to hike, play the guitar, and spend time with my family. I think that balance is crucial and want to encourage people to strike a balance between their financial aspirations and their hobbies. I want to help people succeed and achieve financial security through my work, so having a good influence.

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