A summary on Safe Bulkers ahead of earnings. High dividend + value.

Reuters is reporting that unnamed securities analysts think Safe Bulkers (SB) will earn between $0.32 and $0.43 per share in 1Q2011.  Safe Bulkers will report 1Q2011 earnings after the market closes on May 3rd, 2011.  Safe Bulkers $0.15 quarterly dividend is safe.

Dividend payout ratio – Let’s assume for a moment that the low estimate of $0.32 is accurate.  Their dividend payout ratio would be 47% (dividend per share/earnings per share or $0.15/$0.32).  If the best case proved to be true, then the dividend payout ratio would drop to 35%.  Either way the dividend is safe.

Dividend yield – Safe Bulkers is a high dividend stock yielding 7.41% ($0.60/$8.10).  It has paid $0.15 per quarter for the past nine quarters.

Earning power – The company has a five year average earning power of $1.50 and only trades at 5.4 times the 5 yr. average earnings.  That is a rare value in this stock market.

Balance sheet – recovering and improving


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SOURCE: Safe Bulkers, Inc.

April 28, 2011 09:00 ET

Safe Bulkers, Inc. Sets Date for First Quarter 2011 Results, Dividend Announcement, Conference Call and Webcast

Earnings Release: Tuesday, May 3, 2011, After Market Closes; Conference Call and Webcast: Wednesday, May 4, 2011 at 09:00 A.M. EDT

ATHENS, GREECE–(Marketwire – Apr 28, 2011) – Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it will release its results for the quarter ended March 31, 2011 after the market closes in New York on Tuesday, May 3, 2011. The Company also expects to announce the declaration of a dividend for the first quarter 2011 at that time.

On Wednesday, May 4, 2011 at 9:00 A.M. EDT, the Company’s management team will host a conference call to discuss the financial results.

Conference Call details:

Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1 (866) 819-7111 (US Toll Free Dial In), 0(800) 953-0329 (UK Toll Free Dial In) or +44 (0)1452-542-301 (Standard International Dial In). Please quote "Safe Bulkers" to the operator.

In case of any problem with the above numbers, please dial 1 (866) 223-0615 (US Toll Free Dial In), 0(800) 694-1503 (UK Toll Free Dial In) or +44 (0)1452 586-513 (Standard International Dial In). Please quote "Safe Bulkers" to the operator.

A telephonic replay of the conference call will be available until May 13th by dialling 1 (866) 247-4222 (US Toll Free Dial In), 0(800) 953-1533 (UK Toll Free Dial In) or +44 (0)1452 550-000 (Standard International Dial In). Access Code: 1859591#

Slides and audio webcast:

There will also be a live, and then archived, webcast of the conference call, available through the Company’s website (www.safebulkers.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.

About Safe Bulkers, Inc.

The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world’s largest users of marine drybulk transportation services. The Company’s common stock is listed on the NYSE, where it trades under the symbol "SB." The Company’s current fleet consists of 16 drybulk vessels, all built post-2003, and the Company has contracted to acquire 11 additional drybulk newbuild vessels to be delivered at various times through 2014.

Published in: on April 28, 2011 at 11:50 am  Leave a Comment  

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