Safe Bulkers' Series C Preferred Shares Cross 8% Yield Mark

By Preferred Stock Channel Staff, Wednesday, May 12, 2:22 PM ET

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In trading on Wednesday, shares of Safe Bulkers Inc's 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares (NYSE:SB.PRC) were yielding above the 8% mark based on its quarterly dividend (annualized to $2.00), with shares changing hands as low as $24.93 on the day. This compares to an average yield of 5.54% in the "Shipping" preferred stock category, according to Preferred Stock Channel. As of last close, SB.PRC was trading at a 0.40% premium to its liquidation preference amount, versus the average discount of 15.79% in the "Shipping" category.

The chart below shows the one year performance of SB.PRC shares, versus SB:

Performance Comparison Chart

Below is a dividend history chart for SB.PRC, showing historical dividend payments on Safe Bulkers Inc's 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares:

Free Report: Top 7%+ Dividends (paid monthly)

In Wednesday trading, Safe Bulkers Inc's 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares (NYSE:SB.PRC) is currently down about 0.1% on the day, while the common shares (NYSE:SB) are off about 4.3%.

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Safe Bulkers' Series C Preferred Shares Cross 8% Yield Mark

Safe Bulkers' Series C Preferred Shares Cross 8% Yield Mark | www.PreferredStockChannel.com