Safe Bulkers outlined a plan for its fleet to reach 45% Phase 3 vessels by 2029 while raising its quarterly dividend to $0.06 per common share. During the first quarter of 2026, the company reported net revenues of $74.4 million and adjusted EBITDA of $40.7 million, with an average time charter equivalent of $17,095 across 45 vessels. Daily vessel operating expenses fell 9% to $5,223, and the company maintained a leverage ratio of 34% with liquidity of approximately $374 million. Management highlighted the parallel listing on Euronext Athens as a first for a shipping company with common stock on both the NYSE and that exchange, aiming to broaden its shareholder base. The company also noted an active 10-million-share repurchase program and a healthy cash position of about $167 million alongside $208 million in revolving credit facilities.
Safe Bulkers IncSafe Bulkers raised its quarterly dividend to $0.06 per share and reported Q1 2026 net revenues of $74.4M with adjusted EBITDA of $40.7M.