Safe Bulkers Q2 Net Income Soars to $35.2M, TCE Hits $20,642; Dividend Raised to $0.075
SB has more than doubled off its 52-week low of $3.61.
Summary
Safe Bulkers delivered blowout Q2 results, with net income surging to $35.2 million from $1.7 million a year ago, driven by a strong charter market. The time charter equivalent rate jumped to $20,642 per day, up from $14,857 in Q2 2025, while net revenues rose 33% to $87.5 million. The board raised the quarterly dividend to $0.075 per share, reflecting confidence in sustained cash flows. This follows the company's dual listing on Euronext Athens in June and its ongoing fleet renewal with four newbuild acquisitions announced in May. The balance sheet remains solid with $142.9 million in cash and $200.1 million in undrawn credit facilities, supporting further fleet modernization and shareholder returns.
At the time of this announcement, SB was trading at $7.80 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $760.6M. The 52-week trading range was $3.61 to $7.80. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.