Safe Bulkers, Inc. Announces Quarterly Dividend Declaration
Safe Bulkers, Inc. (NYSE: SB), a notable name in marine drybulk transportation services, has made an exciting announcement regarding its preferred shares. The Company’s Board of Directors has officially declared a cash dividend for its 8.00% Series C and Series D Cumulative Redeemable Perpetual Preferred Shares, reinforcing its steady commitment to delivering returns to shareholders.
Details of the Dividend Declaration
The declared dividend amounts to $0.50 per share for both the Series C and Series D Preferred Shares. This dividend will apply to the period between October 30, 2024, and January 29, 2025, signaling the Company's dedication to shareholder value. The anticipated payment date for the dividend is set for January 30, 2025, meant for all shareholders on record as of January 17, 2025.
Quarterly Payment Schedule
Shareholders should note that dividends for both Series C and Series D Preferred Shares are scheduled to be paid quarterly in arrears. Payments will typically occur on the 30th day of January, April, July, and October each year. Should these dates coincide with weekends or public holidays, the payment date will be adjusted to the next business day. This structured approach is designed to ensure that shareholders can expect regular and predictable payouts.
Board Discretion on Dividends
The decision to declare and pay dividends will ultimately be at the Board of Directors’ discretion. Various factors will influence this decision, including the Company’s financial standing, earnings, cash availability, and the economic landscape. Additionally, it will depend on the Company’s capacity to secure financing, and the balance between growth and maintaining investor returns.
About Safe Bulkers, Inc.
Safe Bulkers, Inc. stands as a prominent international provider of marine dry-bulk transportation services. The Company specializes in the transport of bulk cargoes such as coal, grain, and iron ore, servicing many of the globe's largest consumers of maritime transportation. Its common and preferred stocks (Series C and Series D) are actively traded on the NYSE under symbols SB, SB.PR.C, and SB.PR.D, establishing a strong presence in the market.
Contact Information
For further inquiries, you can reach out to Dr. Loukas Barmparis, the President of Safe Bulkers, Inc. Contact options include phone numbers +30 2 111 888 400 and +357 25 887 200. Additionally, Dr. Barmparis is available via email at directors@safebulkers.com.
Frequently Asked Questions
What is the announced dividend for Safe Bulkers, Inc.?
The dividend is set at $0.50 per share for both the 8.00% Series C and Series D Preferred Shares.
When will the dividend be paid out?
The payment date for the declared dividends is January 30, 2025.
Are the dividends subject to any conditions?
Yes, the declaration and payment of dividends are at the discretion of the Board of Directors, based on various financial factors.
How often can shareholders expect dividend payments?
Dividends will be paid quarterly, typically on the 30th day of January, April, July, and October.
How does Safe Bulkers, Inc. ensure its dividend payments?
The Company considers its earnings, cash requirements, and global financial conditions to determine the viability of dividend payments.
