Safe Bulkers Q2 Net Income Surges to $35.2M, Dividend Raised to $0.075
SB has more than doubled off its 52-week low of $3.61.
Summary
Safe Bulkers reported Q2 2026 net income of $35.2 million, up from $1.7 million a year ago, and raised its dividend to $0.075 per share amid a strong charter market.
Key Events · Earnings and Guidance · SB
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Net Income Surge
Driven by higher charter rates and scrubber benefits, Q2 2026 net income reached $35.2 million, a dramatic increase from $1.7 million in Q2 2025.
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Dividend Increase
The board declared a cash dividend of $0.075 per common share, up from $0.06 in the prior quarter, payable August 26, 2026.
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Strong Charter Market
The average TCE rate rose to $20,642 per day from $14,857 a year ago, with contracted revenue of $164.2 million as of July 24, 2026.
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Fleet Renewal Progress
Two newbuild Kamsarmax vessels were delivered and one Capesize vessel was sold for $35.2 million; the orderbook stands at 10 newbuilds.
Analysis · SB · Energy & Transportation
A blowout quarter saw net income leap to $35.2 million from just $1.7 million a year ago, fueled by a strong charter market and higher TCE rates. Reflecting confidence in sustained cash flows, the quarterly dividend was raised to $0.075 per share. Fleet renewal continues with two newbuild deliveries and a vessel sale, while the Euronext Athens dual listing broadens the investor base. The results underscore a sharp cyclical recovery in dry bulk shipping, though geopolitical risks in the Red Sea and Strait of Hormuz remain.
How filings like this one have moved
In the 30 days to Sep 12, 2026, 35.9% of the 1612 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.19%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SB was trading at $7.47 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $760.6M. The 52-week trading range was $3.61 to $7.98. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.