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Safe Bulkers, Inc. Declares Dividends: 6-K Report Insights for 2025

$SB
Form 6-K
Filed on: 2025-01-03
Source
Safe Bulkers, Inc. Declares Dividends: 6-K Report Insights for 2025

Key Information from the Financial Report

Report Type & Date:

  • Form: 6-K
  • Date Filed: January 3, 2025
  • Company: Safe Bulkers, Inc.
  • Address: Apt. D11, Les Acanthes 6, Avenue des Citronniers, MC98000 Monaco

Dividends Declared:

  • 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares:
  • Dividend Amount: $0.50 per share
  • Period: From October 30, 2024, to January 29, 2025
  • Payment Date: January 30, 2025
  • Record Date: January 17, 2025
  • 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares:
  • Dividend Amount: $0.50 per share
  • Period: From October 30, 2024, to January 29, 2025
  • Payment Date: January 30, 2025
  • Record Date: January 17, 2025

Dividend Payment Schedule:

  • Dividends are payable quarterly in arrears on January 30, April 30, July 30, and October 30, subject to adjustment for weekends or public holidays.

Conditions for Dividend Payment:

  • Payment of dividends is subject to the discretion of the Board of Directors and may depend on factors such as:
  • Company earnings
  • Financial condition and cash requirements
  • Ability to obtain financing
  • Compliance with existing debt covenants
  • Global economic conditions

Company Overview:

  • Business Area: International provider of marine dry-bulk transportation services
  • Primary Cargoes: Coal, grain, and iron ore
  • Stock Listings: Common stock and preferred shares are listed on NYSE under the symbols "SB," "SB.PR.C," and "SB.PR.D."

Forward-Looking Statements:

  • The document includes forward-looking statements related to the company's growth strategies, which involve risks such as changes in market demand, competitive factors, operational risks, and economic conditions.

Contact Information:

  • Company Contact: Dr. Loukas Barmparis, President
  • Investor Relations Contact: Paul Lampoutis, Capital Link, Inc.

Insights:

  • Safe Bulkers, Inc. is actively managing its preferred shares by maintaining a steady dividend, indicating a potentially stable financial position and commitment to shareholder returns.
  • The declaration of dividends is dependent on multiple factors, reflecting prudent financial management, especially in a volatile economic environment.
  • The company’s focus on bulk transportation positions it within essential global trade routes, which could provide resilience against economic downturns, but it also faces risks that could affect profitability.