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Slideshow Preferreds Trading at the Largest Discounts

By Preferred Stock Channel Staff, updated Monday, August 3, 6:36 AM

#25. Safe Bulkers Inc | 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares (NYSE:SB.PRC) | -29.04% CURRENT DISCOUNT

Discount to Liquidation Preference: -29.04%Average Discount in Category: -11.35%
Current Annualized Yield: 11.28%Average Yield in Category: 8.58%
Days Since Last Ex-Div Date: 8 | See Dividend History »Categorization: Transportation

Series:C
Alternate symbology:SB-C, SB-PC, SBprC
Redeemable?:Yes
Call Date:5/31/2019
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:2,000,000
Overallotment:300,000
Liquidation Preference:$25
Recent Market Price:$17.60
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-7.40 (-29.60%)
Annualized Dividend:2.00
Recent Ex-Date:7/22/2015
Current Yield:11.37%
Original Coupon:8.000%
Pay Period:Quarterly
Pay Dates:30-Jan, 30-Apr, 30-Jul, 30-Oct
Safe Bulkers is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for consumers of marine drybulk transportation services. As of Feb 25 2015, Co. had a fleet of 33 drybulk vessels, with an aggregate carrying capacity of 3,019,700 dwt and an average age of 5.8 years. Co. deploys its vessels on both period time charters and spot time charters. The vessels on period time charters provide Co. with relatively stable cash flow and utilization rates, while the vessels in the spot market allow Co. to maintain its flexibility in low charter market conditions.

Preferreds: SB.PRB, SB.PRC, SB.PRD


Open the SB Information Page »
Name:  Safe Bulkers Inc
Website:  www.safebulkers.com
Sector:  Shipping
Number of ETFs Holding SB:  14 (see which ones)
Total Market Value Held by ETFs:  $4,538,272
Total Market Capitalization:  $282,000,000
% of Market Cap. Held by ETFs:  1.61%

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