PreferredStockChannel
Safe Bulkers Inc | 8.00% Series B Cumulative Redeemable Perpetual (SB.PRB)

This preferred is marked as having been called.
Prospectus excerpt:  We are selling 800,000 shares of our 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share (the ˘Series B Preferred Shares÷).

Dividends on the Series B Preferred Shares will accrue and be cumulative from the date of original issue and will be payable quarterly in arrears on January 30, April 30, July 30 and October 30 of each year, commencing July 30, 2013, when, as and if declared by our board of directors. Dividends will be payable out of amounts legally available therefor at an initial rate equal to 8.00% per annum of the stated liquidation preference, subject to adjustment as described in this prospectus supplement.

At any time on or after July 30, 2016, the Series B Preferred Shares may be redeemed, in whole or in part, out of amounts legally available therefor, at a redemption price of $25.00 per share plus an amount equal to all accumulated and unpaid dividends thereon to the date of redemption, whether or not declared. If (i) we fail to comply with certain covenants (a ˘Covenant Default÷), (ii) we experience certain defaults under any of our credit facilities (a ˘Cross Default÷), (iii) four quarterly dividends payable on the Series B Preferred Shares are in arrears (a ˘Dividend Payment Default÷) or (iv) the Series B Preferred Shares are not redeemed in whole by July 30, 2018 (a ˘Failure to Redeem÷), the dividend rate payable on the Series B Preferred Shares shall increase, subject to an aggregate maximum rate per annum of 25% prior to July 30, 2016 and 30% thereafter, to a rate that is 1.25 times the dividend rate payable on the Series B Preferred Shares as of the close of business on the day immediately preceding the Covenant Default, Cross Default, Divided Payment Default or Failure to Redeem, as applicable, and on each subsequent Dividend Payment Date, the dividend rate payable shall increase to a rate that is 1.25 times the dividend rate payable on the Series B Preferred Shares as in effect as of the close of business on the day immediately preceding such Dividend Payment Date, until the Covenant Default, Cross Default or Dividend Payment Default is cured or the Series B Preferred Shares are no longer outstanding. Please see the section entitled ˘Description of Series B Preferred Shares¨Dividends¨Dividend Payment Dates¨Increase in Base Dividend Rate Following a Covenant Default, Cross Default, Dividend Payment Default or Failure to Redeem.÷

Full Prospectus PDF », SB Page »

Series:B
Alternate symbology:SB-B, SB-PB, SBprB
Redeemable?:Yes
Call Date:7/30/2016 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:800,000
Overallotment:120,000
Liquidation Preference:$25
Original Coupon:8.00%
Pay Period:Quarterly
Pay Dates:30-Jan, 30-Apr, 30-Jul, 30-Oct
CDx3 Compliance Rating: Learn SB.PRB's Rating
Safe Bulkers is a holding company. Through its subsidiaries, Co. is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for its consumers of marine drybulk transportation services.

Preferreds: SB.PRB, SB.PRC, SB.PRD


Open the SB Information Page »
Name: 
Safe Bulkers Inc
Website: 
www.safebulkers.com
Sector: 
Shipping
Number of ETFs Holding SB: 
11 (see which ones)
Total Market Value Held by ETFs: 
$10,316,951
Total Market Capitalization: 
$388,000,000
% of Market Cap. Held by ETFs: 
2.66%

Quotes delayed 20 minutes

Email EnvelopeFree Email Alerts:
Get Dividend Alerts
Get SEC Filing Alerts
Top Ten Highest Yielding Preferred Stocks
Feel-Good Income: Socially Responsible Preferreds
Dividend Channel's 25 S.A.F.E. Dividend Stocks
Increasing Payments For Decades

Safer than S.A.F.E: Preferreds of Dividend Channel's
S.A.F.E. Dividend Stocks

Recent Preferred Stock Offerings
Preferred Stocks of Dow Components
Preferred Stocks of S&P 500 Components
Preferred Stocks By Industry
Preferred Stocks Where Insiders Are Buying The Common
High Yield Preferred Stocks
Preferreds Trading At Premiums To Liquidation Preference
Preferreds Trading At Discounts To Liquidation Preference
The Top 10 DividendRank'ed U.S. Stocks
The Top 10 DividendRank'ed Canadian Stocks
Top 25 Broker Analyst Picks of the S&P 500
Stock market game

Safe Bulkers Inc | 8.00% Series B Cumulative Redeemable Perpetual (SB.PRB) Information Page | Preferred Stock Channel | www.PreferredStockChannel.com

Copyright © 2010 - 2022, All Rights Reserved Nothing in Preferred Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Preferred Stock Channel; Meet Our Editorial Staff.