Quarterly ResultJun 18, 2026, 09:17 AM
Safe Bulkers Q1 2026 Net Income $22.2M; Declares $0.06 Dividend
AI Summary
Safe Bulkers, Inc. reported its first quarter 2026 financial results, showing a significant increase in net revenues and net income compared to the prior year. The company announced a cash dividend of $0.06 per common share and highlighted the commencement of trading for its common stock on Euronext Athens. The report also detailed fleet renewal initiatives, financial highlights including EBITDA and EPS, and updates on debt and liquidity.
Key Highlights
- Safe Bulkers reported Q1 2026 net revenues of $74.4 million, a 16% increase year-over-year.
- Net income for Q1 2026 was $22.2 million, up from $7.2 million in Q1 2025.
- Adjusted EBITDA for Q1 2026 was $40.7 million, compared to $29.4 million in Q1 2025.
- The company declared a cash dividend of $0.06 per common share, payable on July 16, 2026.
- Safe Bulkers' common stock commenced trading on Euronext Athens in June 2026.
- Fleet renewal efforts include newbuild orders and the sale of older vessels.
- Total cash as of March 31, 2026, was $181.2 million.
- The company's weighted average interest rate for Q1 2026 was 5.15%.
Price Impact
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