Safe Bulkers Declare Series B Preferred Shares Dividend

Greece-based dry bulk ship owners Safe Bulkers declares a cash dividend of $0.51111 per share on its 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares for the period from July 30, 2013 to October 29, 2013.

The dividend will be paid on October 30, 2013 to all Series B preferred shareholders of record as of October 25, 2013. The Company has 1,600,000 Series B Preferred Shares outstanding to date.

This is the second consecutive cash dividend the Company has declared since the commencement of trading of its Series B Preferred Shares on the New York Stock Exchange on June 19, 2013.

The Company points out that the declaration and payment of dividends, if any, will always be subject to the discretion of the Board of Directors of the Company, and will depend on, among other things, the Company’s earnings, financial condition and cash requirements and availability, the Company’s ability to obtain debt and equity financing on acceptable terms as contemplated by the Company’s growth strategy, the restrictive covenants in the Company’s existing and future debt instruments and global economic conditions.