Safe Bulkers (SB) reported 3Q2011 financials yesterday. It is yielding 9.13%

My current favorite high dividend stock , Safe Bulkers (SB), reported third quarter financials yesterday. 

http://www.safebulkers.com/sbpr101711.pdf

In summary, they will continue to pay their $0.15 quarterly dividend.  Safe Bulker’s dividend currently yields 9.13%.  Their dividend payout ratio remains around a conservative 50% level.  Earnings have decreased a few percentage points consistent with a horrible market in dry bulk shipping.  The balance sheet results were mixed.  Shareholder equity was up good, but current ratio and quick ratio were both down.

Image001

I will provide in-depth analysis tomorrow.

CONCLUSION – Safe Bulkers remains a buy below $7.00 per share.  However, worldwide double dip recession will take the American stock market and Safe Bulkers lower.  I think there will be opportunities to buy SB below $5.00 per share.  I’m waiting to get closer to the bottom.

Disclosure: I don’t own Safe Bulkers, but I want to.

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Published in: on October 18, 2011 at 3:31 pm  Leave a Comment  

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