Safe Bulkers Series C Perpetual Preferred Shares Declare $0.50 Quarterly Dividend
Safe Bulkers Inc.'s Cumulative Redeemable Perpetual Preferred Shares, Series C (SB.PR.C), have declared a quarterly dividend of $0.50 per share. The forward yield is currently at 7.68%, with the payment scheduled for October 30 to shareholders on record as of October 16. This announcement comes amid broader market movements in shipping stocks and ongoing developments within Safe Bulkers' financial strategy. The company has been working to reduce costs while accelerating cash margin growth, according to recent reports. Additionally, Safe Bulkers is planning a private placement involving up to 12 million shares, which may impact its stock price dynamics. The broader shipping sector remains under pressure due to geopolitical tensions in the Hormuz Strait, contributing to tightened capacity and elevated prices. The dividend declaration reflects continued investor confidence in preferred dividends from Safe Bulkers despite recent volatility.
Tickers: $SB PRC
Topics: dividend Safe Bulkers