Safe Bulkers Stock Price, News & Analysis

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.

Safe Bulkers, Inc. (NYSE: SB) announced the acquisition of a 2012-built, 181,000 dwt Capesize vessel, the MV Michalis H, for $30 million. The purchase will be financed from the Company’s cash reserves, expanding its fleet to seven Capesize vessels. Scheduled for delivery in May 2022, this acquisition is part of the Company's strategy to enhance its market position in the Cape market segment. President Dr. Loukas Barmparis expressed confidence in the competitive pricing and the utilization of existing liquidity to finance the deal.

Safe Bulkers, Inc. (NYSE: SB) announced a cash dividend of $0.50 per share for its 8.00% Series C and Series D Preferred Shares for the period from January 30, 2021, to April 29, 2022. Payment will occur on May 2, 2022, to shareholders of record as of April 20, 2022. Additionally, the company plans to redeem 1,492,554 of its Series C Preferred Shares at a price of $25.00 each, effective April 29, 2022. Future dividends will depend on the Board's discretion, influenced by business performance and financial conditions.

Safe Bulkers, Inc. (NYSE: SB) has filed its 2021 Annual Report on Form 20-F with the SEC. The report provides comprehensive details about the company's operations in marine drybulk transportation. Shareholders can access the report online or request a hard copy for free. Safe Bulkers specializes in transporting bulk commodities like coal, grain, and iron ore globally. While the report covers growth strategies and potential vessel acquisitions, it includes forward-looking statements that involve inherent risks and uncertainties impacting future performance.

Safe Bulkers (NYSE: SB) announced a redemption of 1,492,554 of its 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares, which have a liquidation preference of $25.00 each. The redemption will take place on April 29, 2022, at a price of $25.00 plus any accrued dividends. After this date, these shares will cease to be outstanding. The full details of the redemption will be communicated to the holders via a Redemption Notice, available through American Stock Transfer & Trust Company.

Safe Bulkers, Inc. (NYSE: SB) reported strong financial results for Q4 and the full year 2021, achieving net revenues of $92.4 million and a net income of $65.2 million, significantly up from Q4 2020's $7.6 million. The Board declared a cash dividend of $0.05 per share. With total cash of $112.3 million and manageable debt of $355.7 million, liquidity remains robust. Despite challenges from COVID-19 and geopolitical tensions, the company has enhanced fleet capabilities and secured favorable charters, reflecting its commitment to growth and shareholder returns.