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

Safe Bulkers, Inc. (NYSE:SB) declared a quarterly dividend on Thursday, November 14th,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 is Monday, December 2nd.

Safe Bulkers has a dividend payout ratio of 28.2% meaning its dividend is sufficiently covered by earnings. 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 2.7 %

SB stock traded down $0.12 on Thursday, reaching $4.29. 854,674 shares of the company traded hands, compared to its average volume of 666,797. Safe Bulkers has a one year low of $3.40 and a one year high of $6.33. The firm has a fifty day simple moving average of $4.63 and a 200-day simple moving average of $5.16. The company has a market cap of $458.04 million, a P/E ratio of 5.34 and a beta of 0.95. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Safe Bulkers from a “buy” rating to a “hold” rating in a research note on Wednesday.

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.