Safe Bulkers, Inc. declares quarterly dividend

• A cash dividend of US$0.50 per share on its 8% Series C Cumulative Redeemable Perpetual Preferred Shares (the Series C Preferred Shares) for the period from 30 January 2024 to 29 April 2024.
• A cash dividend of US$0.50 per share on its 8% Series D Cumulative Redeemable Perpetual Preferred Shares (the Series D Preferred Shares) for the period from 30 January 2024 to 29 April 2024.

Each dividend will be paid on 30 April 2024 to all shareholders of record as of 18 April 2024 of the Series C Preferred Shares and of the Series D Preferred Shares, respectively. Dividends on the Series C and D Preferred Shares are payable quarterly in arrears on the 30th day (unless the 30th falls on a weekend or public holiday, in which case the payment date is moved to the next business day) of January, April, July and October of each year.

The declaration and payment of future dividends, if any, will always be subject to the discretion of the board of directors of the company. There is no guarantee that the company’s board of directors will determine to issue cash dividends in the future. The timing and amount of any dividends declared will depend on, among other things: (i) the company’s earnings, fleet employment profile, financial condition and cash requirements and available sources of liquidity; (ii) decisions in relation to the company’s growth, fleet renewal and leverage strategies; (iii) provisions of Marshall Islands and Liberian law governing the payment of dividends; (iv) restrictive covenants in the company’s existing and future debt instruments; and (v) global economic and financial conditions.

Read the article online at: https://www.drybulkmagazine.com/shipping/05042024/safe-bulkers-inc-declares-quarterly-dividend/