MONACO, July 11, 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 C Cumulative Redeemable Perpetual Preferred Shares (the
“Series C Preferred Shares”) (NYSE:SB.PR.C) for the period from April 30, 2018 to July 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 April 30, 2018 to July 29, 2018.
Each dividend will be paid on July 30, 2018 to all shareholders of record as of July 23, 2018 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.
This is the seventeenth cash dividend declared on its Series C Preferred Shares and the sixteenth cash dividend
declared on its Series D Preferred Shares, since their respective 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 Company’s earnings, financial condition and cash requirements
and availability, the Company’s ability to obtain debt and equity financing on acceptable terms as contemplated by the Company’s
growth and leverage strategies, the restrictive covenants in the Company’s existing and future debt instruments and global economic
conditions.
About Safe Bulkers, Inc.
The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes,
particularly coal, grain and iron ore, along worldwide shipping routes for some of the world’s largest users of marine drybulk
transportation services. The Company’s common stock, series C preferred stock and series D preferred stock are listed on the NYSE,
and trade under the symbols “SB”, “SB.PR.C” and “SB.PR.D” respectively.
Forward-Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Exchange Act
of 1933, as amended, and in the Section 21E of the Securities Act of 1934, as amended) concerning future events, the Company’s
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 which 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 Company’s 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
Company’s 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 Barmparis
President
Safe Bulkers, Inc.
Tel.: +30 2 111 888 400
+357 25 887 200
E-Mail: directors@safebulkers.com
Investor Relations / Media Contact:
Nicolas Bornozis, President
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, N.Y. 10169
Tel.: (212) 661-7566
Fax: (212) 661-7526
E-Mail: safebulkers@capitallink.com