Safe Bulkers, Inc. (NYSE:SB) Plans $0.05 Quarterly Dividend

Safe Bulkers, Inc. (NYSE:SB) announced a quarterly dividend on Monday, July 29th, Wall Street Journal reports. Stockholders of record on Wednesday, August 21st will be paid a dividend of 0.05 per share by the shipping company on Thursday, September 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Wednesday, August 21st.

Safe Bulkers has a dividend payout ratio of 25.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Safe Bulkers to earn $1.00 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 20.0%.

Safe Bulkers Stock Down 5.9 %

Safe Bulkers stock opened at $5.13 on Wednesday. The firm has a market cap of $547.73 million, a price-to-earnings ratio of 7.54 and a beta of 0.92. The firm has a fifty day moving average price of $5.74 and a two-hundred day moving average price of $5.08. Safe Bulkers has a fifty-two week low of $2.97 and a fifty-two week high of $6.33. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.55 and a quick ratio of 2.55.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings results on Monday, July 29th. The shipping company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Safe Bulkers had a return on equity of 10.86% and a net margin of 31.11%. The business had revenue of $78.55 million for the quarter, compared to analyst estimates of $69.16 million. During the same quarter last year, the firm earned $0.12 earnings per share. As a group, analysts forecast that Safe Bulkers will post 0.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Safe Bulkers from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st.

Safe Bulkers Company Profile

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.