Safe Bulkers, Inc. Declares Quarterly Dividend on its 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares; 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares; 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares
GlobeNewswire 12-Jan-2018 4:05 PM
MONACO, Jan. 12, 2018 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the Company) (NYSE:SB), an international provider of marine drybulk transportation services, announced today that the Company's Board of Directors has declared:
a cash dividend of $0.50 per share on its 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares (the Series B Preferred Shares) (NYSE:SB.PR.B) for the period from October 30, 2017 to January 29, 2018;
a cash dividend of $0.50 per share on its 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares (the Series C Preferred Shares) (NYSE:SB.PR.C) for the period from October 30, 2017 to January 29, 2018;
a cash dividend of $0.50 per share on its 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares (the Series D Preferred Shares) (NYSE:SB.PR.D) for the period from October 30, 2017 to January 29, 2018.
Each dividend will be paid on January 30, 2018 to all shareholders of record as of January 23, 2018 of the Series B Preferred Shares of the Series C Preferred Shares and of the Series D Preferred Shares, respectively. Dividends on the Series B, 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.
This is the eighteenth consecutive cash dividend declared on the Companys Series B Preferred Shares, the fifteenth cash dividend declared on its Series C Preferred Shares and the fourteenth cash dividend declared on its Series D Preferred Shares, since their commencement of trading on the New York Stock Exchange.
The declaration and payment of dividends, if any, will always be subject to the discretion of the Board of Directors of the Company, and will depend on, among other things, the Companys earnings, financial condition and cash requirements and availability, the Companys ability to obtain debt and equity financing on acceptable terms as contemplated by the Companys growth strategy, the restrictive covenants in the Companys existing and future debt instruments and global economic conditions.
About Safe Bulkers, Inc.
The Company is an international provider of marine dry-bulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the worlds largest users of marine dry-bulk transportation services. The Companys common stock, series B preferred stock, series C preferred stock and series D preferred stock are listed on the NYSE, and trade under the symbols SB, SB.PR.B, SB.PR.C, and SB.PR.D, respectively.
This press release contains forward-looking statements (as defined in Section 27A of the Securities Exchange Act of 1933, as amended, and in Section 21E of the Securities Act of 1934, as amended) concerning future events, the Companys growth strategy and measures to implement such strategy, including expected vessel acquisitions and entering into further time charters. Words such as expects, intends, plans, believes, anticipates, hopes, estimates and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the demand for drybulk vessels, competitive factors in the market in which the Company operates, risks associated with operations outside the United States and other factors listed from time to time in the Companys filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release any updates or revisions to any forward-looking statements contained herein to reflect any change in the Companys expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
For further information please contact:
Company Contact: Dr. Loukas BarmparisPresidentSafe Bulkers, Inc.Tel.: +30 2 111 888 400+357 25 887 200E-Mail:email@example.com
Investor Relations / Media Contact: Nicolas Bornozis, PresidentCapital Link, Inc.230 Park Avenue, Suite 1536New York, N.Y. 10169Tel.: (212) 661-7566Fax: (212) 661-7526E-Mail: firstname.lastname@example.org