Safe Bulkers, Inc. has scheduled its annual meeting of stockholders for September 10, 2026, at 15:00 local time at the Fairmont Hotel in Monte Carlo, Monaco. The meeting will allow stockholders to vote on corporate matters and any other business that may properly come before the meeting. The record date to determine stockholder eligibility for voting is July 15, 2026.

The Board of Directors of Safe Bulkers, Inc. has called the meeting to address standard corporate governance items. Formal notice of the meeting and the company’s proxy statement will be sent to eligible stockholders in due course. The company operates as an international provider of marine drybulk transportation services, moving bulk cargoes such as coal, grain, and iron ore along worldwide shipping routes.

Safe Bulkers’ common stock, Series C preferred stock, and Series D preferred stock are listed on the NYSE under the symbols "SB," "SB.PR.C," and "SB.PR.D," respectively. Its common stock is also listed on Euronext Athens under the ticker symbol "SB."

Key Meeting Details

Stockholders holding shares at the close of business on the record date will be entitled to vote at the annual meeting or any adjournments or postponements thereof.

Safe Bulkers reported a net income of $22.2 million for the first quarter ended March 31, 2026, a substantial increase from $7.2 million in the same period of 2025. The growth was primarily driven by higher net revenues, which rose to $74.390 million from $64.348 million, supported by increased charter hires and earnings from scrubber-fitted vessels. The company’s adjusted earnings per share (EPS) of $0.18 beat the analyst consensus estimate of $0.11 by 63.64 percent. The Time Charter Equivalent (TCE) rate increased to $17,095 from $14,655 year-over-year.

Financial Performance

The company’s adjusted EBITDA for the quarter stood at $40.7 million, compared to $29.4 million in the prior year. Earnings per share (EPS) rose to $0.20 from $0.05. Vessel operating expenses decreased to $21.2 million from $23.9 million, while daily vessel operating expenses fell by 9% to $5,223. The company operated an average of 45 vessels during the quarter, compared to 46 in the same period last year.

Dividend Declaration

The Board of Directors declared a cash dividend of $0.06 per share on the company’s outstanding common stock. The dividend is payable on July 16, 2026, to shareholders of record at the close of trading on June 30, 2026. The record date is common for both the NYSE and Euronext Athens markets. The ex-dividend date for the NYSE is expected to be June 30, 2026, while for Euronext Athens it is expected to be June 29, 2026.

Fleet and Operational Updates

As of June 12, 2026, Safe Bulkers’ fleet consisted of 45 vessels, including eight Panamax, 13 Kamsarmax, 17 Post-Panamax, and seven Capesize class vessels, with a total carrying capacity of 4.5 million dwt. The company has an orderbook of 11 newbuild vessels, including 10 Kamsarmax and one Capesize class, scheduled for delivery between 2026 and 2029. The company also sold three vessels during the period: the Capesize vessel Michalis H for $35.2 million, and the Post-Panamax Xenia and Kamsarmax Pedhoulas Commander for $13.0 million and $14.7 million, respectively.

Liquidity and Debt

As of March 31, 2026, the company held total cash of $181.2 million and had undrawn revolving credit facilities of $193.2 million. Total debt was reported at $544.0 million, consisting of $114.5 million in unsecured debt and $429.5 million in secured debt. The company’s consolidated leverage, based on market valuations, was approximately 34%.