New York, United States. Safe Bulkers has approved a new quarterly dividend for holders of its Series C and Series D preferred shares and said it is continuing with its fleet renewal and Environmental, Social, and Governance plans. The company also announced the launch of its first methanol dual-fuel bulk carrier.
Dividend declaration
The board of directors of the New York-listed dry-bulk shipping company declared a cash dividend of $0.50 per share on its 8 per cent Series C Cumulative Redeemable Perpetual Preferred Shares and 8 per cent Series D Cumulative Redeemable Perpetual Preferred Shares.
The dividend covers the period from April 30 to July 29, 2026. Payment will be made on July 30, 2026, to shareholders of record as of July 17, 2026.
Safe Bulkers said dividends on the Series C and Series D preferred shares are payable quarterly in arrears on January 30, April 30, July 30 and October 30 each year. If a payment date falls on a weekend or public holiday, payment is moved to the next business day.
Future payments subject to board discretion
The company said future dividend payments are not guaranteed and remain subject to the discretion of its board of directors.
It said any future decision will depend on several factors, including the company’s earnings, fleet employment profile, financial position, cash requirements and available liquidity.
The board will also consider decisions linked to the company’s growth, fleet renewal and leverage strategies, as well as legal provisions governing dividend payments, restrictive covenants in existing and future debt instruments, and wider global economic and financial conditions.
Fleet renewal update
The announcement comes as Safe Bulkers continues to advance its fleet renewal programme.
In a separate update, the company announced the successful launch of its first methanol dual-fuel bulk carrier, Hull No. SS386, to be named Kypros Island.
