Safe Bulkers Inc

Safe Bulkers' 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares declared a quarterly dividend of $0.50 per share, a payout that works out to a forward yield of 7.68%. The dividend is payable October 30 to shareholders of record as of October 16, which is also the ex-dividend date. The declaration covers the Series C preferred series, one component of the company's preferred equity, and the $0.50 per-share figure applies to that series alone.

Safe Bulkers outlined a plan for its fleet to reach 45% Phase 3 vessels by 2029 while raising its quarterly dividend to $0.06 per common share. During the first quarter of 2026, the company reported net revenues of $74.4 million and adjusted EBITDA of $40.7 million, with an average time charter equivalent of $17,095 across 45 vessels. Daily vessel operating expenses fell 9% to $5,223, and the company maintained a leverage ratio of 34% with liquidity of approximately $374 million. Management highlighted the parallel listing on Euronext Athens as a first for a shipping company with common stock on both the NYSE and that exchange, aiming to broaden its shareholder base. The company also noted an active 10-million-share repurchase program and a healthy cash position of about $167 million alongside $208 million in revolving credit facilities.

Safe Bulkers reported first-quarter 2026 Non-GAAP earnings per share of $0.18, beating analyst estimates by $0.09. Revenue came in at $74.4 million, a 15.7% increase year-over-year, exceeding expectations by $8.9 million. The results were announced in a company press release.