Safe Bulkers, Inc. (NYSE:SB – Get Free Report) announced a quarterly dividend on Monday, July 29th, Wall Street Journal reports. Shareholders of record on Wednesday, August 21st will be paid a dividend of 0.05 per share by the shipping company on Thursday, September 5th. This represents a $0.20 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Wednesday, August 21st.
Safe Bulkers has a dividend payout ratio of 25.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Safe Bulkers to earn $1.00 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 20.0%.
Safe Bulkers Stock Down 5.9 %
SB opened at $5.13 on Wednesday. The business has a 50 day simple moving average of $5.74 and a 200-day simple moving average of $5.08. Safe Bulkers has a 12 month low of $2.97 and a 12 month high of $6.33. The stock has a market capitalization of $547.73 million, a P/E ratio of 7.54 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.55 and a quick ratio of 2.55.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st.
Check Out Our Latest Research Report on Safe Bulkers
About Safe Bulkers
Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.
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