Welcome to our dedicated page for Safe Bulkers news (Ticker: SB), a resource for investors and traders seeking the latest updates and insights on Safe Bulkers stock.
Safe Bulkers, Inc. (NYSE: SB) is an international marine dry-bulk carrier that transports bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes. Its news flow, as reflected in company press releases furnished on Form 6‑K, covers operational performance, fleet developments, financing activities and shareholder distributions.
Investors following SB news will see regular updates on unaudited quarterly financial results, including time charter equivalent rates, daily vessel operating expenses, EBITDA and Adjusted EBITDA, as well as commentary from management on dry-bulk market conditions. The company also reports on dividends declared on its common stock and on its 8.00% Series C and 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares, with details on record dates, payment dates and the Board’s dividend policy considerations.
Safe Bulkers’ news releases highlight its fleet renewal and environmental initiatives, such as sales of older Kamsarmax class vessels, deliveries of IMO GHG Phase 3 - NOx Tier III newbuilds, and the progress of its environmental upgrade program targeting improved energy efficiency and lower fuel consumption. Announcements also address new credit facilities, including sustainability-linked revolving credit facilities tied to fleet carbon intensity performance, and information on total cash, undrawn borrowing capacity and debt repayment schedules.
Additional SB news items include the authorization of common stock repurchase programs, results of annual meetings of stockholders, and participation in industry conferences. For market participants, the Safe Bulkers news page provides a centralized view of these disclosures, helping them track how the company manages its fleet, capital structure, environmental compliance and shareholder returns over time.
Safe Bulkers reported strong financial results for Q2 2022, with net income of $50.3 million, up from $32.4 million in Q2 2021. Net revenues grew 12% year-over-year to $91.6 million. The company declared a cash dividend of $0.05 per share, payable on September 1, 2022. As of June 30, 2022, total cash was $139.4 million and total debt was $432.6 million. The fleet comprises 42 vessels, including new environmentally friendly builds aimed at reducing emissions. Despite operational challenges due to COVID-19 and geopolitical conflicts, Safe Bulkers maintains a robust balance sheet and liquidity position.
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Safe Bulkers, Inc. has announced that it will release its financial results for the second quarter ending June 30, 2022, after market close on July 27, 2022. A conference call is scheduled for July 28, 2022, at 12:00 P.M. Eastern Time, where management will discuss the results. Participants can register for the call via a provided link. Safe Bulkers provides marine drybulk transportation services globally, specializing in transporting cargoes like coal, grain, and iron ore. The company's stocks trade under symbols SB, SB-PC, and SB-PD.
Safe Bulkers announced an annual stockholders' meeting to be held on September 26, 2022, at the Fairmont Hotel in Monaco. Stockholders of record as of August 1, 2022, can vote at the meeting. The company provides marine drybulk transportation services, mainly transporting coal, grain, and iron ore worldwide. Safe Bulkers, trading under symbols SB, SB-PC, and SB-PD, will send formal notice and proxy statements to its stockholders.
On July 5, 2022, Safe Bulkers, Inc. (NYSE: SB) declared a cash dividend of $0.50 per share for its 8.00% Series C and Series D Cumulative Redeemable Perpetual Preferred Shares. This dividend applies to the period from April 30, 2022, to July 29, 2022, and will be paid on August 1, 2022 to shareholders of record as of July 22, 2022. Future dividends will depend on various factors including the company's financial condition and strategic decisions.
Safe Bulkers, Inc. (NYSE: SB) has authorized a stock buyback program allowing for the purchase of up to 5,000,000 shares of its common stock, equating to approximately 4.1% of outstanding shares. The program underscores the company's commitment to enhancing shareholder value. Although purchases are permitted, the company is not obligated to buy back shares and can modify or terminate the program at any time. Funding for the buyback will come from existing cash resources, indicating financial stability amidst ongoing market fluctuations.
Safe Bulkers, Inc. (NYSE: SB) has announced the acquisition of two Kamsarmax class vessels from a Chinese shipyard, scheduled for delivery in August 2024 and January 2025. This addition supports the company’s fleet renewal strategy, emphasizing energy efficiency by meeting strict emissions regulations. The company now has a total of 10 newbuild vessels on order, including three Post-panamax and seven Kamsarmax vessels, with a delivery schedule extending through 2025.
Safe Bulkers, Inc. announced an agreement to acquire the MV Aghia Sofia, a 2012-built Capesize class vessel, for $31.75 million. The delivery is set for August 2022 following necessary upgrades, including ballast water treatment installation. This acquisition aims to expand their Capesize fleet to eight vessels, enhancing revenue and profitability. The purchase will be financed from the company’s cash reserves. Safe Bulkers provides marine drybulk transportation services, specializing in cargoes like coal, grain, and iron ore, and trades under the symbols SB, SB-PC, and SB-PD.
Safe Bulkers, Inc. (NYSE: SB) reported unaudited financial results for Q1 2022, achieving net revenues of $77.7 million, up 24% year-over-year. Net income reached $36.4 million, compared to $21.3 million in Q1 2021. The company declared a cash dividend of $0.05 per share, payable on June 15, 2022. Notably, total cash increased to $166.3 million. The company also highlighted a significant debt reduction exceeding $200 million year-over-year. The impact from COVID-19 was minimal at $0.5 million, and operational challenges due to ongoing conflicts were noted.
Safe Bulkers, Inc. (NYSE: SB) will release its Q1 2022 financial results on May 25, 2022, after market close. The management team will host a conference call on May 26, 2022, at 9:00 A.M. ET to discuss these results. Participants can join via a toll-free number or through an international dial-in line. An archived audio webcast will be available on the company's website. Safe Bulkers provides marine drybulk transportation services, focusing on bulk cargoes such as coal, grain, and iron ore.