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

Safe Bulkers, Inc. (NYSE:SB - Get Free Report) declared a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Shareholders 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 Trading Down 3.0 %

Shares of Safe Bulkers stock traded down $0.15 during mid-day trading on Tuesday, hitting $4.99. The stock had a trading volume of 723,781 shares, compared to its average volume of 834,103. The firm has a 50-day moving average of $4.85 and a two-hundred day moving average of $4.15. The firm has a market cap of $556.38 million, a P/E ratio of 8.04 and a beta of 1.02. The company has a quick ratio of 2.33, a current ratio of 2.63 and a debt-to-equity ratio of 0.61. Safe Bulkers has a 12-month low of $2.97 and a 12-month high of $5.24.

Safe Bulkers (NYSE:SB - Get Free Report) last issued its quarterly earnings data on Monday, April 29th. The shipping company reported $0.20 EPS 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 during the quarter. During the same quarter in the prior year, the company posted $0.10 EPS. Sell-side analysts forecast that Safe Bulkers will post 0.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group raised Safe Bulkers from a "hold" rating to a "buy" rating and lifted their price objective for the company from $4.00 to $6.00 in a research note 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.