Tranche Update on Safe Bulkers, Inc. (NYSE:SB)'s Equity Buyback Plan announced on June 21, 2022.
February 29, 2024 at 06:47 pm IST
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From April 1, 2023 to May 31, 2023, the company has repurchased 3,737,974 shares, representing 3.3% for $13.44 million. With this, the company has completed the repurchase of 9,970,000 shares, representing 8.5% for $34.64 million under the buyback announced on June 21, 2022.
Safe Bulkers, Inc. is a holding company. The Company's principal business is the acquisition, ownership and operation of drybulk vessels. The Company's vessels operate across the world, carrying drybulk cargo for the consumers of marine drybulk transportation services. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along shipping routes across the world. As of February 17, 2017 the Company's fleet included 38 vessels, of which 14 are Panamax class vessels, nine are Kamsarmax class vessels, 12 are Post-Panamax class vessels and three are Capesize class vessels, with an aggregate carrying capacity of 3,421,800 deadweight tonnage (dwt). The Company's fleet of Post-Panamax vessels includes Marina, Xenia, Sophia, Eleni, Martine, Andreas K, Panayiota K, Venus Heritage, Venus History, Venus Horizon and Troodos Sun. Its fleet of Capesize vessels includes Kanaris, Pelopidas and Lake Despina.
SAFE BULKERS, INC. 
