Safe Bulkers Q4 Profit Rises; Declares Dividend - Quick Facts

(RTTNews) - Safe Bulkers Inc. (SB), Wednesday said fourth-quarter net income available to common shareholders was $32.2 million or $0.42 per share, compared to $30.2 million or $0.38 per share in the same period last year.

Adjusted net income available to common shareholders for the latest fourth quarter was $30.5 million or $0.38 per share, up from $20.5 million or $0.27 per share in the prior year period. On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.18 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues increased 28 percent to $59.17 million from $46.36 million last year, while six analysts expected revenues of $42.10 million.

Further, the Board of Directors of the company declared a cash dividend on the company's common stock of $0.06 per share payable on or about March 17, 2014 to shareholders of record at the close of trading of the company's common stock on March 10, 2014.