Monaco - June 21, 2022
Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it has authorized a program under which it may from time to time in the future purchase up to 5,000,000 shares of the Company’s common stock.
If the maximum number of shares of the Company’s common stock are purchased pursuant to the aforementioned program, it would represent approximately 4.1% of the shares of the Company’s common stock outstanding and 6.9% of its public float.
The program does not obligate the Company to purchase shares of the Company’s common stock and the program may be modified or terminated at any time without prior notice.
Any such purchases will be made in the open market in compliance with applicable laws and regulations, and that purchases on the open market will be conducted within the safe harbor provisions of Regulation 10b-18 under the Securities Exchange Act of 1934, as amended.
The purchases will be funded using the Company’s existing cash resources.
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, series B preferred stock, series C preferred stock and series D preferred stock are listed on the NYSE, and trade under the symbols “SB”, “SB.PR.C”, and “SB.PR.D”, respectively.
Safe Bulkers, Inc. press release