Safe Bulkers Q1 Profit Declines; Declares Dividend - Quick Facts

(RTTNews) - Safe Bulkers Inc. (SB), Wednesday said first-quarter net income available to common shareholders was $10.4 million or $0.13 per share, compared to $16.1 million or $0.21 per share in the comparable quarter last year.

Adjusted net income available to common shareholders for the latest first quarter was $8.6 million or $0.10 per share, down from $16.0 million or $0.21 per share in the prior year period. On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.11 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues decreased 7 percent to $41.34 million from $44.23 million last year, while seven analysts expected revenues of $37.43 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 June 17, 2014 to shareholders of record at the close of trading of the company's common stock on June 10, 2014.