Safe Bulkers Stock Price, News & Analysis

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.

Safe Bulkers, Inc. (NYSE: SB) announced its fourth-quarter and full-year 2021 earnings release set for March 9, 2022, after market close. A conference call is scheduled for March 10, 2022, at 9:00 A.M. Eastern Time, to discuss financial results. Interested participants can join the call via various numbers provided by the company. Safe Bulkers specializes in marine drybulk transportation, focusing on commodities such as coal, grain, and iron ore.

Safe Bulkers Inc. (NYSE: SB) announced its evaluation of biofuels as alternative fuels to reduce its carbon footprint. A pilot project on M/V Troodos Oak successfully tested a 20% blend of biofuel, achieving a 13.54% reduction in CO2 emissions compared to conventional Very Low Sulphur Fuel Oil (VLSFO). The trial confirmed no need for modifications to the ship’s equipment. The company will expand this initiative in collaboration with Cargill to explore higher biofuel blends and nitrogen oxide emissions' impact, emphasizing its commitment to environmental sustainability.

Safe Bulkers Inc. announced that its subsidiary, Safe Bulkers Participations Plc, has priced an offering of €100 million in unsecured bonds with a 2.95% coupon, maturing in 2027. The bonds are guaranteed by the company and will begin trading on the Athens Exchange on February 14, 2022, under the ticker SBB1. Proceeds will be used for vessel acquisitions, preferred share redemptions, and debt repayments. This issuance marks a milestone for the company as the first dry bulk shipping bond on the ATHEX, enhancing its capital structure.

Safe Bulkers Inc. (NYSE: SB) announced plans for a public offer in Greece for up to €100 million in unsecured bonds through its subsidiary, Safe Bulkers Participations Plc. The offering aims to raise around €97.5 million to repay debt, redeem preferred shares, fund working capital, or acquire vessels. The bonds will only be offered to non-U.S. persons and won't be registered under the Securities Act. This action reflects the company's strategy to optimize its financial structure and bolster growth opportunities.

Safe Bulkers, Inc. (NYSE: SB) has announced the acquisition of the MV Maria, a Capesize vessel built in 2014, for $33.8 million. The delivery is scheduled for February 2022 and will be financed from the company’s cash reserves. This vessel is the company's sixth Capesize addition and will enhance its fleet to a total of 40 vessels. The purchase capitalizes on seasonal market weaknesses, according to President Dr. Loukas Barmparis, highlighting a competitive acquisition strategy.

Safe Bulkers, Inc. (NYSE: SB) announced its participation in Capital Link’s Corporate Presentations Webinar Series. The presentation will take place on January 18th, 2022 at 10am ET, where senior management will discuss the company's operations and outlook for the dry bulk sector. Interested participants can register for the webinar via a provided link. A live Q&A session will follow, allowing attendees to submit questions. The company focuses on marine drybulk transportation, with stocks trading under SB, SB-PC, and SB-PD.

Safe Bulkers, Inc. (NYSE: SB) announced a cash dividend of $0.50 per share for both its 8.00% Series C and Series D Cumulative Redeemable Perpetual Preferred Shares for the period from October 30, 2021, to January 29, 2022. These dividends will be paid on January 31, 2022, to shareholders on record as of January 20, 2022. Future dividends are subject to the company's earnings and financial condition. Safe Bulkers provides marine drybulk transportation services globally, focusing on coal, grain, and iron ore transportation.