Dividend Policy

Safe Bulkers’ common stock trades on the New York Stock Exchange (“NYSE”) under the symbol “SB.” The Company’s series C preferred stock and series D preferred stock are listed on the NYSE, and trade under the symbols “SB.PR.C” and “SB.PR.D”, respectively.

The declaration and payment of dividends, if any, will always be subject to the discretion of the Board of Directors of the Company. The timing and amount of any dividends declared will depend on, among other things: (i) the Company’s earnings, financial condition and cash requirements and available sources of liquidity; (ii) decisions in relation to the Company’s growth 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.

As of October 29, 2021, the Company had  issued and outstanding: 

  • 121,640,839 shares of common stock,
  • 2,297,504 shares of 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares, liquidation preference $25.00 per share and
  • 3,195,050 shares of 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares, liquidation preference $25.00 per share.

The Company has not delcared a cash dividend for common stock since July 30, 2015. The company has declared a cash dividend of $0.50 per share on each of its 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares (NYSE: SB.PR.C) and 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares (NYSE: SB.PR.D) for the period from October 30, 2021, to January 29, 2022, which is scheduled to be paid on January 31, 2022 to the respective shareholders of record as of January 20, 2022.