Quarterly ResultJul 28, 2026, 04:07 PM
Safe Bulkers Q2 Net Income Jumps to $35.2M; Raises Dividend to $0.075
AI Summary
Safe Bulkers reported significantly improved financial results for Q2 2026, with net income rising to $35.2 million and net revenues increasing by 33% year-over-year. The company also declared an increased cash dividend of $0.075 per share. Strategic initiatives include the recent listing on Euronext Athens, ongoing fleet modernization with newbuilds and environmental upgrades, and a share repurchase program under which 515,469 shares have been bought back.
Key Highlights
- Q2 2026 Net Income: $35.2 million, up from $1.7 million in Q2 2025.
- Q2 2026 Net Revenues: $87.5 million, a 33% increase from Q2 2025.
- Q2 2026 EPS: $0.33, compared to $0.00 in Q2 2025.
- Dividend: Declared $0.075 per common share, payable August 26, 2026.
- Share Buyback: Purchased and cancelled 515,469 shares as of July 24, 2026.
- Fleet Orderbook: 10 IMO GHG Phase 3 - NOx Tier III newbuilds.
- Vessel Sales: Sold 3 vessels for a total gross price of $62.7 million.
- Euronext Athens: Common stock commenced trading in June 2026.
Price Impact
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