Preferred Stock Channel
Safe Bulkers Inc | 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares (SB.PRC)

Prospectus excerpt:  We are selling 2,000,000 shares of our 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share (the ˘Series C Preferred Shares÷).

Dividends on the Series C Preferred Shares will accrue and be cumulative from the date of original issue and will be payable quarterly in arrears on January 30, April 30, July 30 and October 30 of each year, commencing July 30, 2014, when, as and if declared by our board of directors. Dividends will be payable out of amounts legally available therefor at an initial rate equal to 8.00% per annum of the stated liquidation preference.

At any time on or after May 31, 2019 or in connection with a fundamental change, the Series C Preferred Shares may be redeemed, in whole or in part, out of amounts legally available therefor, at a redemption price of $25.00 per share plus an amount equal to all accumulated and unpaid dividends thereon to the date of redemption, whether or not declared.

Full Prospectus PDF », SB Page »

Series:C
Alternate symbology:SB-C, SB-PC, SBprC
Redeemable?:Yes
Call Date:5/31/2019 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:2,000,000
Overallotment:300,000
Liquidation Preference:$25
Recent Market Price:$19.44
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-5.56 (-22.24%)
Annualized Dividend:2
Recent Ex-Date:7/22/2020
Current Yield:10.29%
Original Coupon:8.00%
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. Co.'s principal business is the ownership and operation of drybulk vessels. Co.'s vessels operate worldwide, carrying drybulk cargo for the consumers of marine drybulk transportation services.

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:  11 (see which ones)
Total Market Value Held by ETFs:  $2,417,634
Total Market Capitalization:  $127,000,000
% of Market Cap. Held by ETFs:  1.90%

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