Safe Bulkers, Inc. Announces a Ten Million Shares of Common Stock Repurchase Program
Rhea-AI Summary
Safe Bulkers (NYSE: SB) on Dec 1, 2025 authorized a share repurchase program to buy up to 10,000,000 common shares.
If fully executed, the repurchase would equal about 9.8% of outstanding shares and 20.0% of the public float. Purchases will be made on the open market under Rule 10b-18 and funded from the company’s existing cash resources. The program is discretionary, may be modified or terminated at any time, and supersedes any prior repurchase program.
Positive
- 10,000,000 shares authorized for repurchase
- Repurchase equals approximately 9.8% of outstanding shares
- Repurchase equals approximately 20.0% of public float
- Purchases funded from existing cash resources
Negative
- Share repurchases will use existing cash, reducing cash reserves
- Program is discretionary with no firm purchase timeline
News Market Reaction – SB
On the day this news was published, SB gained 0.76%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Marine shipping peers like ESEA (-1.89%), GNK (-1.55%) and PANL (-3.28%) were also down, but no peers appeared in momentum scans, pointing to stock-specific drivers for SB.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 01 | Share repurchase | Positive | +0.8% | Authorized buyback of up to 10,000,000 common shares. |
| Nov 25 | Earnings & dividend | Neutral | -0.4% | Reported Q3 2025 results and declared $0.05 common dividend. |
| Nov 19 | Earnings date set | Neutral | -1.1% | Announced Q3 2025 release date and related conference call details. |
| Oct 07 | Conference participation | Neutral | -0.7% | Participation in Capital Link’s New York Maritime Forum for investor meetings. |
| Oct 03 | Preferred dividends | Neutral | +0.0% | Declared $0.50 quarterly dividends on Series C and D preferred shares. |
Recent SB headlines, including dividends, conferences, and buybacks, have produced relatively modest single-day moves, with buyback news historically drawing a mild positive reaction.
Over the last few months, Safe Bulkers reported Q3 2025 results with net revenues of $73.1M and net income of $17.8M, while maintaining common and preferred dividends. The company has been active in capital allocation, declaring regular preferred dividends and authorizing share repurchase programs. Conference participation and earnings-date announcements had only modest price effects. Today’s buyback authorization for up to 10,000,000 shares builds on this pattern of returning capital while managing fleet renewal and balance sheet position.
Market Pulse Summary
This announcement details a new share repurchase program authorizing up to 10,000,000 common shares, equal to about 9.8% of shares outstanding and 20.0% of public float if fully used. It follows an earlier 3M-share program and will be funded from existing cash resources, previously reported at $187.2M. Investors may monitor actual buyback execution, future earnings trends, and balance sheet metrics such as debt of $574.4M when assessing capital allocation.
Key Terms
public float financial
rule 10b-18 regulatory
AI-generated analysis. Not financial advice.
MONACO, Dec. 01, 2025 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it has authorized a program under which it may from time to time in the future purchase up to 10,000,000 shares of the Company’s common stock. If the maximum number of shares of the Company’s common stock are purchased pursuant to the aforementioned program, it would represent approximately
The program does not obligate the Company to purchase shares of the Company’s common stock and the program may be modified or terminated at any time without prior notice. Any such purchases will be made in the open market in compliance with applicable laws and regulations, and that purchases on the open market will be conducted within the safe harbor provisions of Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The purchases will be funded using the Company’s existing cash resources. The program supersedes any prior repurchase program of the Company.
About Safe Bulkers, Inc.
The Company is an international provider of marine dry-bulk transportation services, transporting bulk cargoes, particularly grain, coal and iron ore, along worldwide shipping routes for some of the world’s largest users of marine dry-bulk transportation services. The Company’s common stock, series C preferred stock and series D preferred stock are listed on the NYSE, and trade under the symbols “SB”, “SB.PR.C”, and “SB.PR.D”, respectively.
Forward-Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and in Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, the Company’s growth strategy and measures to implement such strategy, including expected vessel acquisitions and entering into further time charters. Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, business disruptions due to natural disasters or other events, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the demand for drybulk vessels, competitive factors in the market in which the Company operates, changes in TCE rates, changes in fuel prices, risks associated with operations outside the United States, general domestic and international political conditions, uncertainty in the banking sector and other related market volatility, disruption of shipping routes due to political events, risks associated with vessel construction and other factors listed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
For further information please contact:
Company Contact:
Dr. Loukas Barmparis
President
Safe Bulkers, Inc.
Tel.: +30 2 111 888 400
Fax: +30 2 111 878 500
E-Mail: directors@safebulkers.com
Investor Relations / Media Contact:
Nicolas Bornozis, President Capital Link, Inc.
230 Park Avenue, Suite 1536 New York, N.Y. 10169
Tel.: (212) 661-7566
Fax: (212) 661-7526
E-Mail: safebulkers@capitallink.com
FAQ
What did Safe Bulkers (SB) announce on December 1, 2025?
How will Safe Bulkers fund the SB share repurchase program?
Will Safe Bulkers (SB) be required to buy shares under the repurchase program?
How will Safe Bulkers execute repurchases for SB shares?
Does the new SB repurchase program replace any prior program?
