My High Dividend Stocks Blog
My High Dividend Stocks
This is my high dividend stocks site where I help site members find high dividend stocks with earning power and strong balance sheets.
My High Dividend Stocks
This is my high dividend stocks site where I help site members find high dividend stocks with earning power and strong balance sheets.
The S&P 500 index has had quite a run since its March 2009 bottom. It hit bottom at 666 points on March 9th, 2009 and has powered 94.5% higher to 1,249 today.
I think it’s time to reexamine the S&P 500 PE ratio. Are we closer to a market top or a market bottom? The price to earnings ratio for the S&P 500 is currently 18 (http://www.decisionpoint.com/tac/Swenlin.html ). It has been around or above 20 since 2003. I don’t think that the market is anywhere near the value level.
Time for a little price to earnings ratio history lesson. The following excerpt comes from the book Security Analysis (2nd Edition) pg. 536 and it is enlightening 71 years later.
* * * * * * *
In previous chapters various references have been made to Wall Street’s ideas on the relation of earnings to values. A given common stock is generally considered to be worth a certain number of times its current earnings. This number of times, or multiplier, depends partly on the prevailing psychology and partly on the nature and record of the enterprise. Prior to the 1927-1929 bull market ten times earnings was the accepted standard of measurement. More accurately speaking, it was the common point of departure for valuing common stocks, so that an issue would have to be considered exceptionally desirable to justify a higher ratio, and conversely.
Beginning about 1927 the ten-times-earnings standard was superseded by a rather confusing set of new yardsticks. On the one hand, there was a tendency to value common stocks in general more liberally than before. This was summarized in a famous dictum of a financial leader implying that good stocks were worth fifteen times their earnings.1 There was also the tendency to make more sweeping distinctions in the valuations of different kinds of common stocks. Companies in especially favored groups, e.g., public utilities and chain stores, in 1928-1929, sold at a very high multiple of current earnings, say, twenty-five to forty times. This was true also of the “blue chip” issues, which comprised leading units in miscellaneous fields. As pointed out before, these generous valuations were based upon the assumed continuance of the upward trend shown over a longer or shorter period in the past. Subsequent to 1932 there developed a tendency for prices to rule higher in relation to earnings because of the sharp drop in long-term interest rates.
* * * * * * *
This chart confirms that there has been a change in investor valuation of common stocks over the years. The bottoms of S&P 500 has been rising. Too bad the chart cuts off in 2003.
How low did the S&P 500 P/E ratio fall to during the Panic of 2008-2009?
It didn’t fall during the panic. On the contrary, it skyrocketed because earnings were falling faster than stock prices. It has settled in the 18-20 PE range since the end of 2009. Dividend yields tend to be highest at market bottoms. The last time the S&P 500 yielded over 6% was in 1982. We are closer to the top of the market than the bottom. If you are in the market, then you should make plans to get out before the next financial crisis.
Current price to earnings ratios of stock mentioned often on this blog:
American Capital Agency Corp. (AGNC) – 4.00
SafeBulkers Inc. (SB) – 4.98
SeaDrill (SDRL) – 13.70
Terra Nitrogen (TNH) – 13.51
AGNC and SafeBulkers are high dividend stocks in the value zone, but only SafeBulkers has earning power and a strong balance sheet.
Subscribe today for free at www.myhighdividendstocks.com/feed to discover high dividend stocks with earning power and strong balance sheets.
Be seeing you!
I'm going to read the annual report this weekend. I'll blog about anything interesting I find next week.
Here is a link to the 3 year chart for Safe Bulkers: http://stockcharts.com/h-sc/ui?s=SB&p=W&b=5&g=0&id=p43475946092
I like this company, but I would wait for a pullback to the $6.20 - $6.00 range.
Disclosure: I don't own Safe Bulkers right now.
SOURCE: Safe Bulkers, Inc.
ATHENS, GREECE--(Marketwire - March 4, 2011) - Safe Bulkers, Inc. (the "Company") (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it has filed its 2010 Annual Report on Form 20-F with the U.S. Securities and Exchange Commission (the "SEC").
The 2010 Annual Report on Form 20-F is available by link through the Company's website, www.safebulkers.com, under Investor Relations > SEC Filings.
Alternatively, shareholders may also receive a hard copy of the 2010 Annual Report on Form 20-F, free of charge, by request to Capital Link, using the contact details provided at the end of this press release.
About Safe Bulkers, Inc.
Quickly Find High Dividend Stocks in Very Specific Industries to Diversify Your Portfolio.
Jason Brizic
Feb. 25, 2011
Are you having trouble quickly finding high dividend stocks in for your diversified portfolio? This tip should help you save time finding high dividend stocks in specific industries.
Ycharts.com can help you find high dividend stocks in very specific industries. Google Finance’s stock screener is a more of a blunt instrument compared to www.ycharts.com drill down features. Click on the website’s Sectors tab then follow these instructions.
You can quickly compare two measurements on their charts and you can sort by those same measurements in the table data below the chart. I set the Y-axis to dividend yield and the X-axis to PE Ratio because I’m looking for high dividends and low PEs. However, you could also set the metrics to dozens of different combinations. For example, you could use Price to Sales vs Price to Book Value to find extreme value/contrarian stocks that probably don’t have a dividend.
I’ve written several articles on one of my favorite high dividend stocks. The stock is Safe Bulkers Inc. (SB). Click on this link to see the results for the shipping industry:
http://ycharts.com/industries/Shipping/dividend_yield,pe_ratio
Safe Bulkers is amongst the highest dividend yielders with one of the lowest P/E ratio. I’ve done the fundamental analysis on them, so I know they are solid on earning power and possess a strong balance sheet.
I’m visually screening for stocks with dividend yields over 6% and a P/E less than 25 (preferably under 12). Some new names jump out at me on the dividend yield vs P/E ratio charts: Paragon Shipping, Knightsbridge Tankers, Navios Maritime Partners, and Teekay Tankers. I will go investigate the fundamentals (dividend record, earnings power, and strength of balance sheet) to determine if any are worthy of purchase and at what price.
You can go back up the hierarchy to get to other sectors | sub-sectors | niche-sectors
For more tips, go here:
http://www.myhighdividendstocks.com/category/tip-of-the-week
Safe Bulkers Stock To Go Ex-dividend Tomorrow (SB)
By TheStreet Wire 02/15/11 - 10:04 AM EST
NEW YORK (TheStreet) -- The ex-dividend date for Safe Bulkers (NYSE:SB) is tomorrow, February 16, 2011. Owners of shares as of market close today will be eligible for a dividend of 15 cents per share. At a price of $9.55 as of 9:35 a.m. ET, the dividend yield is 6.4%. The average volume for Safe Bulkers has been 141,000 shares per day over the past 30 days. Safe Bulkers has a market cap of $614 million and is part of the services sector and transportation industry. Shares are up 7.6% year to date as of the close of trading on Monday.
Safe Bulkers, Inc. provides marine drybulk transportation services worldwide. The company transports various bulk cargoes, such as coal, grain, and iron ore. The company has a P/E ratio of 5.3, below the average transportation industry P/E ratio of 5.4 and below the S&P 500 P/E ratio of 23.3.
Link to the original article: http://www.thestreet.com/story/11009028/1/safe-bulkers-stock-to-go-ex-dividend-tomorrow-sb.html
Subscribe today for free at www.myhighdividendstocks.com/feed to discover high dividend stocks with earning power and strong balance sheets.
Be seeing you!
Posted on 02/14/11 at 1:08pm by Chip Brian
(via COMTEX News Network)--
Safe Bulkers (NYSE: SB) is one of today's notable stocks on the rise, up 2.6% to $9.56. The S&P is currently trading fractionally higher to 1,331 and the Dow Jones Industrial Average is trading fractionally lower to 12,264.
Safe Bulkers is in SmarTrend's Shipping & Marine Services industry and this industry is currently in an Uptrend according to our research. We are monitoring many other stocks on the move within this industry.
In the last five trading sessions, the 50-day MA has climbed 1.29% while the 200-day MA has risen 0.3%.
In the past 52 weeks, shares of Safe Bulkers have traded between a low of $6.50 and a high of $9.39 and are now at $9.56, which is 47% above that low price.
SmarTrend currently has shares of Safe Bulkers in an Uptrend and issued the Uptrend alert on July 30, 2010 at $7.71. The stock has risen 20.9% since the Uptrend alert was issued.
Write to Chip Brian at cbrian@tradethetrend.com
Link to the original article: http://bit.ly/SBwayup
Subscribe today for free at www.myhighdividendstocks.com/feed to discover high dividend stocks with earning power and strong balance sheets.
Be seeing you!
Safe Bulkers Inc. (SB) reported 4Q2010 earnings of $0.47 per share and a continuation of the their $0.15 per share dividend. Their dividend payout ratio is a very low 32% for a high dividend stock. SB closed at $8.95 today. The stock currently yields 6.7%. They are a dry bulk shipping company with 16 ships in their fleet. I have written several articles on them because they are one of the best high dividend stocks in my opinion.
http://www.myhighdividendstocks.com/category/high-dividend-stocks/sb
Here are some highlights from the earnings release (these are my words):
· Their fleet is young. The average age is only 3.80 years. The assumption is that they are more fuel efficient and less maintenance costs than older vessels.
· The dividend is stable and safe even at prevailing low Baltic Dry Index rates.
· The vessel operating costs are up slightly, but do not threaten their large margins.
· Earning power is stable. Their fleet is 78% rented out for 2011, 59% in 2012, and 54% in 2013. Most of their earnings are already known for the next few years. Those earnings alone could easily cover their existing dividend rates.
· They have a strong balance sheet. Their debt is less than 50% of assets. Their current ratio is good (current assets are over double of current liabilities
Subscribe today for free at www.myhighdividendstocks.com/feed to discover high dividend stocks with earning power and strong balance sheets.
Be seeing you!
Here is the Safe Bulkers press release with all the details:
SOURCE: Safe Bulkers, Inc.
Feb 09, 2011 16:05 ET
Safe Bulkers, Inc. Reports Fourth Quarter and Full Year 2010 Results and Declares Quarterly Dividend
ATHENS, GREECE--(Marketwire - February 9, 2011) - Safe Bulkers, Inc. (the "Company") (NYSE: SB), an international provider of marine drybulk transportation services, announced today its unaudited financial results for the fourth quarter and the year ended December 31, 2010. The Company also declared a quarterly dividend of $0.15 per share for the fourth quarter of 2010.
Summary of Fourth Quarter 2010 Results
-- Net revenue for the fourth quarter of 2010 increased by 13% to
$41.3 million from $36.6 million during the same period in 2009.
-- Net income for the fourth quarter of 2010 increased by 34% to
$31.1 million from $23.2 million during the same period in 2009.
-- EBITDA(1) for the fourth quarter of 2010 increased by 33% to
$37.9 million from $28.4 million during the same period in 2009.
-- Earnings per share for the fourth quarter of 2010 of $0.47, calculated
on a weighted average number of shares of 65,878,212, compared to $0.42
in the fourth quarter 2009, calculated on a weighted average number of
shares of 54,513,787.
-- Declaration of a dividend of $0.15 per share for the fourth quarter
of 2010.
Summary of Twelve Months Ended December 31, 2010 Results
-- Net revenue for the twelve months ended December 31, 2010 decreased by
5% to $157.0 million from $164.6 million during the same period in 2009.
-- Net income for the twelve months ended December 31, 2010 decreased by
34% to $109.6 million from $165.4 million during the same period
in 2009.
-- EBITDA for the twelve months ended December 31, 2010 decreased by 29% to
$133.4 million from $187.6 million during the same period in 2009.
-- Earnings per share for the twelve months ended December 31, 2010 of
$1.73, calculated on a weighted average number of shares of 63,300,466
compared to $3.03 in the twelve months ended December 31, 2009,
calculated on a weighted average number of shares of 54,510,587.
(1) EBITDA represents net income plus interest expense, tax, depreciation and amortization. See "EBITDA Reconciliation".
Fleet and Employment Profile
The Company's operational fleet as of December 31, 2010, was comprised of 16 drybulk vessels with an average age of 3.80 years.
As of December 31, 2010, the Company has contracted for eight additional drybulk newbuild vessels with deliveries scheduled at various times through 2013. The newbuilds consist of two Post-Panamax, three Kamsarmax, one Panamax and two Capesize vessels.
As of December 31, 2010, the remaining capital expenditure requirements for the delivery of the eight newbuilds, were $171.1 million for 2011, $70.4 million for 2012 and $22.2 for 2013. We anticipate satisfying these capital expenditure requirements from existing cash and time deposits, operating cash surplus and existing undrawn loan commitments.
On January 11, 2011, we contracted to acquire a Japanese-built, drybulk, Panamax-class newbuild at approximately $41.8 million, consisting of payments of $18.9 million and JPY 1.9 billion, with an expected delivery date in the first quarter of 2012.
As of January 31, 2011, the company has 1 existing and 8 newbuild vessels unencumbered and a $50 million long-term floating rate note facility against which additional loans can be drawn.
As of January 31, 2011, the contracted employment of the Company's fleet was 78% of fleet ownership days for the remaining days of 2011, 59% for 2012 and 54% for 2013, including vessels which are scheduled to be delivered to us in the future.
Dividend Declaration
The Company declared a cash dividend on its common stock of $0.15 per share payable on or about February 25, 2011 to shareholders of record at the close of trading of the Company's common stock on the New York Stock Exchange (the "NYSE") on February 18, 2011.
The Company had 65,879,916 shares of common stock issued and outstanding as of today.
The Board of Directors of the Company is continuing a policy of paying out a portion of the Company's free cash flow at a level it considers prudent in light of the current economic and financial environment. The declaration and payment of dividends, if any, will always be subject to the discretion of the Board of Directors of the Company. The timing and amount of any dividends declared will depend on, among other things: (i) our earnings, financial condition and cash requirements and availability, (ii) decisions in relation to our growth strategies, (iii) provisions of Marshall Islands and Liberian law governing the payment of dividends, (iv) restrictive covenants in our existing and future debt instruments and (v) global financial conditions. We can give no assurance that dividends will be paid in the future.
Management Commentary
Dr. Loukas Barmparis, President of the Company, said: "We are happy to announce today our unaudited financial results for the quarter and year ended December 31, 2010. Our revenues increased for the second consecutive quarter, supported by long term charters with our clients. Our Board has maintained a stable dividend policy by paying out a low percentage of free cash flows and declaring our eleventh consecutive quarterly dividend, of $0.15 per share, since our initial public offering in 2008. Our selective fleet expansion at attractive prices, funded to a large extent from operational surplus, will support our future revenues as newbuilds enter our fleet. We remain committed to the solid growth of our company, through flexible asset management and consistent chartering policy, for the benefit of our shareholders.''
Conference Call
On Thursday, February 10, 2011 at 9:00 A.M. EST, the Company's management team will host a conference call to discuss the financial results.
Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1 (866) 819-7111 (US Toll Free Dial In), 0(800) 953-0329 (UK Toll Free Dial In) or +44 (0)1452-542-301 (Standard International Dial In). Please quote "Safe Bulkers" to the operator.
A telephonic replay of the conference call will be available until February 18, 2011 by dialing 1 (866) 247-4222 (US Toll Free Dial In), 0(800) 953-1533 (UK Toll Free Dial In) or +44 (0)1452 550-000 (Standard International Dial In). Access Code: 1859591#
Slides and Audio Webcast
There will also be a live, and then archived, webcast of the conference call, available through the Company's website (www.safebulkers.com). Participants in the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.
Management Discussion of Fourth Quarter 2010 Results
Net income increased by 34% to $31.1 million for the fourth quarter of 2010 from $23.2 million for the fourth quarter of 2009. This increase is mainly attributable to the following factors:
Net revenues: Net revenues were $41.3 million for the fourth quarter of 2010, a 13% increase compared to $36.6 million for the fourth quarter of 2009. Net revenues increased due to increases in the number of operating days and the Time Charter Equivalent ("TCE")(2) rate. The Company operated 15.3 vessels on average during the fourth quarter of 2010, earning a TCE rate of $29,395, compared to 14.0 vessels and a TCE rate of $28,605 during the fourth quarter of 2009. The increase in the TCE rate resulted mainly from higher time charter rates.
Vessel operating expenses: Vessel operating expenses increased by 21% to $6.3 million for the fourth quarter of 2010, compared to $5.2 million for the same period in 2009. The increase in operating expenses is mainly attributed to an increase in ownership days of 9% to 1,409 in the fourth quarter of 2010 from 1,288 in the fourth quarter of 2009 and to a further increase in crew, repairs, maintenance, spare parts and stores costs associated with the delivery of our latest newbuild vessel Venus Heritage. Daily vessel operating expenses increased by 10% to $4,463 for the fourth quarter of 2010, compared to $4,053 for the fourth quarter of 2009.
(Loss)/Gain on derivatives: Gain on derivatives increased to $4.9 million in the fourth quarter of 2010, compared to a loss of $1.2 million for the same period in 2009, as a result of the mark-to-market valuation of the Company's interest rate swap transactions that we employ to manage the risk and interest rate exposure of our loan and credit facilities. These swaps economically hedged the interest rate exposure of the Company's aggregate loans outstanding. The average remaining period of our swap contracts is 3.2 years as of December 31, 2010. The valuation of these interest rate swap transactions at the end of each quarter is affected by the prevailing interest rates at that time.
Depreciation: Depreciation increased to $5.4 million in the fourth quarter of 2010, compared to $3.9 million for the same period in 2009, as a result of the increase in the average number of vessels operated by the Company during the fourth quarter of 2010.
Cash, time deposits & restricted cash: As of December 31, 2010, we had $100.4 million in cash and short-term time deposits, $5.4 million in long-term restricted cash and $50.0 million in a long-term floating rate note, from which the Company may borrow up to 80% under certain conditions. Additionally, we have $82.7 million in an undrawn loan commitments, $24.0 million to be secured by our existing vessel Panayiota K and $58.7 million to be secured by our newbuild with Hull number 1074 expected to be delivered by the third quarter of 2011, whilst our recently delivered post-panamax newbuild vessel Venus Heritage remains debt free.
(2) Refer to definition of "TCE" in Note 6 of Fleet Data Table.
Management Discussion of the Twelve months ended December 31, 2010 Results
Net revenues: Net revenues for the twelve months ended December 31, 2010 decreased by 5% to $157.0 million from $164.6 million during the same period in 2009. The Company operated 14.6 vessels on average during the twelve months of 2010, earning a TCE rate of $29,534, compared to 13.2 vessels and a TCE rate of $34,208 during the twelve months of 2009.
Net income: Net income for the twelve months ended December 31, 2010 was $109.6 million, a decrease of 34% from net income of $165.4 million for the twelve months ended December 31, 2009. The decrease of $55.8 million is mainly attributed to: (i) early redelivery income of $0.1 million, compared to $75.0 million, (ii) zero loss on asset cancellations, compared to $20.7 million, (iii) gain on sale of assets of $15.2 million, compared to none, (iv) a loss on derivatives of $8.2 million, compared to a loss on derivatives of $4.4 million, (v) depreciation of $19.7 million, compared to $13.9 million, (vi) interest expense of $6.4 million, compared to $10.3 million, (vii) vessel operating expenses of $23.1 million, compared to $19.6 million, and (viii) net revenues of $157.0 million, compared to $164.6 million, during the twelve months of 2010 and 2009 respectively.
Unaudited Interim Financial Information and Other Data
SAFE BULKERS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
FOR THE PERIODS ENDED DECEMBER 31, 2009 AND DECEMBER 31, 2010
Three Month Period Twelve Month Period
(In thousands of U.S. Ended December 31, Ended December 31,
Dollars except for share ---------------------- ----------------------
and per share data) 2009 2010 2009 2010
---------- ---------- ---------- ----------
REVENUES:
Revenues 37,435 41,908 168,400 159,698
Commissions (867) (621) (3,794) (2,678)
Net revenues 36,568 41,287 164,606 157,020
EXPENSES:
Voyage expenses (97) (134) (577) (610)
Vessel operating expenses (5,220) (6,289) (19,628) (23,128)
Depreciation (3,941) (5,421) (13,893) (19,673)
General and administrative
expenses (1,544) (2,011) (7,046) (7,018)
Early redelivery income - - 74,951 132
Loss on asset
cancellations - - (20,699) -
Gain on sale of assets - - - 15,199
Operating income 25,766 27,432 177,714 121,922
OTHER (EXPENSE) / INCOME:
Interest expense (1,523) (1,652) (10,342) (6,423)
Other finance costs (51) (147) (442) (331)
Interest income 298 380 2,164 2,627
(Loss)/gain on derivatives (1,241) 4,882 (4,416) (8,163)
Foreign currency (loss)/gain (65) 287 838 281
Amortization and write-off of
deferred finance charges (20) (50) (106) (266)
Net income 23,164 31,132 165,410 109,647
Earnings per share 0.42 0.47 3.03 1.73
Weighted average number of
shares 54,513,787 65,878,212 54,510,587 63,300,466
SAFE BULKERS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
AS OF DECEMBER 31, 2009 AND DECEMBER 31, 2010
December 31, December 31,
(In thousands of U.S. Dollars) 2009 2010
------------ ------------
ASSETS
Cash, time deposits, and restricted cash 82,714 100,415
Asset held for sale 16,969 -
Other current assets 5,965 3,861
Vessels, net 373,924 541,244
Advances for vessel acquisition and vessels
under construction 93,520 99,014
Other fixed assets, net 69 -
Restricted cash non-current 4,763 5,423
Long-term investment 50,000 50,000
Other non-current assets 800 5,415
Total assets 628,724 805,372
LIABILITIES AND EQUITY
Current portion of long-term debt & liability
directly associated with asset held for sale 50,242 27,674
Other current liabilities 15,309 25,309
Long-term debt, net of current portion 420,994 467,070
Other non-current liabilities 44,960 41,186
Shareholders' equity 97,219 244,133
Total liabilities and equity 628,724 805,372
Fleet Data
Three Months Ended Twelve Months Ended
&nbs
Let’s assume that the nameless analysts below are correct in that, “On average, analysts predict that Safe Bulkers, Inc. will post $0.38 EPS next quarter. The company has a market cap of $569.8 million and a price-to-earnings ratio of 5.04.” Is the Safe Bulkers dividend threatened?
Safe Bulkers has been paying a quarterly dividend of $0.15 per share for two years. Safe Bulkers dividend payout ratio will equal 39.4% if they continue to payout $0.15 per quarter. This does not immediately threaten Safe Bulkers dividend. I would take over a year of earnings erosion to threaten SB’s dividend.
Make no mistake, there is a ton of dry bulk tonnage (pun intended) coming into the market. Many dry bulk shippers ordered ship to be built during the central bank fueled boom times of 2006-2007. The Baltic Dry Index was at record high levels. Then the central bank fueled bust came in 2008-2009. Suddenly there was no need for all the ships being built in the shipyards. Many dry bulk companies cancelled or delay delivery. The delayed deliveries are sliding down into the water when the BDI is at near record lows. I read last night than the tonnage available in the world wide fleet is about to be nearly doubled. (http://seekingalpha.com/article/250232-dht-the-silver-lining-in-the-shipping-cloud )
However, the need for Capesize dry bulk ships goes up if the Suez Canal gets shut down by Egyptian turmoil.
February 1st, 2011 • View Comments • Filed Under • by ABMN Staff
Equities research analysts at FBR Capital (NASDAQ: FBCM) downgraded shares of Safe Bulkers, Inc. (NYSE: SB) from an “outperform” rating to a “market perform” rating in a research note to investors on Monday. The analysts currently have a $9.00 price target on the stock.
Separately, analysts at Zacks Investment Research downgraded shares of Safe Bulkers, Inc. from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday January 26th.
Safe Bulkers, Inc. (Safe Bulkers) is an international provider of marine dry bulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along global shipping routes for some of the global consumers of marine dry bulk transportation services. As of January 31, 2010, the Company had a fleet of 13 dry bulk vessels, with an aggregate carrying capacity of 1,077,900 deadweight tons (dwt) and an average age of 3.6 years. The fleet consisted of four Panamax vessels, three Kamsarmax vessels and six Post-Panamax class vessels. The Company’s subsidiaries include Efragel Shipping Corporation, Marindou Shipping Corporation, Avstes Shipping Corporation, Kerasies Shipping Corporation, Marathassa Shipping Corporation, Pemer Shipping Ltd., Petra Shipping Ltd., Pelea Shipping Ltd., Staloudi Shipping Corporation, Marinouki Shipping Corporation, Soffive Shipping Corporation, Eniaprohi Shipping Corporation and Eniadefhi Shipping Corporation.
Shares of Safe Bulkers, Inc. (NYSE: SB) traded up 2.13% during mid-day trading on Tuesday, hitting $8.65. Safe Bulkers, Inc. has a 52 week low of $6.50 and a 52 week high of $9.00. The stock’s 50-day moving average is $8.63 and its 200-day moving average is $8.07. On average, analysts predict that Safe Bulkers, Inc. will post $0.38 EPS next quarter. The company has a market cap of $569.8 million and a price-to-earnings ratio of 5.04.
Original link to article: http://www.americanbankingnews.com/2011/02/01/safe-bulkers-inc-sb-downgraded-by-fbr-capital-fbcm-to-market-perform/#
Subscribe for free today at www.myhighdividendstocks.com/feed to discover high dividend stocks with earning power and strong balance sheets.
Be seeing you!
It will be interesting to see the effect of the huge drop in the Baltic Dry Index (BDI) on Safe Bulkers’ earnings. The BDI stood at 2,741 at the start of 4Q2010. By the end of 4Q2010 it had fallen 968 points to 1,773. It dropped 35.3% during 4Q2010. What will be the effect on Safe Bulkers earnings? I’m guessing that they will be down less than 10 per cent because a high percentage of their ships are rented out long term. Only a small portion of their fleet is time-chartered (spot prices).
Subscribe today for free at www.myhighdividendstocks.com/feed to discover high dividend stocks with earning power and strong balance sheets.
SOURCE: Safe Bulkers, Inc.
Feb 02, 2011 09:10 ET
Safe Bulkers, Inc. Sets Date for Fourth Quarter and Full Year 2010 Results, Dividend Announcement, Conference Call and Webcast
Earnings Release: Wednesday, February 09, 2011, After Market Closes; Conference Call and Webcast: Thursday, February 10, 2011 at 09:00 A.M. EST
ATHENS, GREECE--(Marketwire - February 2, 2011) - Safe Bulkers, Inc. ( the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it will release its results for the fourth quarter and full year ended December 31, 2010 after the market closes in New York on Wednesday, February 09, 2011.
The Company also expects to announce the declaration of a dividend for the fourth quarter 2010 at that time.
On Thursday, February 10, 2011 at 09:00 A.M. EST, the Company's management team will host a conference call to discuss the financial results.
Conference Call
Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1 (866) 819-7111 (US Toll Free Dial In), 0(800) 953-0329 (UK Toll Free Dial In) or +44 (0)1452-542-301 (Standard International Dial In). Please quote "Safe Bulkers" to the operator.
A telephonic replay of the conference call will be available until February 18, 2011 by dialling 1 (866) 247-4222 (US Toll Free Dial In), 0(800) 953-1533 (UK Toll Free Dial In) or +44 (0)1452 550-000 (Standard International Dial In). Access Code: 1859591#
Slides and audio webcast:
There will also be a live, and then archived, webcast of the conference call, available through the Company's website (www.safebulkers.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.
About Safe Bulkers, Inc.
The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world's largest users of marine drybulk transportation services. The Company's common stock is listed on the NYSE, where it trades under the symbol "SB". The Company's current fleet consists of 16 drybulk vessels, all built post-2003, and the Company has contracted to acquire nine additional drybulk newbuild vessels to be delivered at various times through 2013.
Original press release: http://www.marketwire.com/press-release/Safe-Bulkers-Inc-Sets-Date-Fourth-Quarter-Full-Year-2010-Results-Dividend-Announcement-NYSE-SB-1389313.htm
Be seeing you!

Jan. 19 (Bloomberg) -- The Baltic Dry Index, a measure of commodity-shipping costs, extended this year’s decline to 20 percent as Australian flooding curbed cargo volumes and new capesize ships joined the fleet.
The index fell 21 points, or 1.5 percent, to 1,411, according to data from the Baltic Exchange in London. Daily rents for capesizes that haul coal and iron ore led declines, dropping 4.1 percent to $9,143, the lowest level since Jan. 2, 2009. That means the biggest ships in the gauge are the cheapest to hire.
Australia’s Queensland state, producer of about half the world’s seaborne supply of coking coal to make steel, suffered its worst flooding in 50 years this month, shutting mines and railroads. The state today cut its coking-coal output forecast for the year ending June 30 by 10.5 percent. The capesize fleet’s carrying capacity will swell by 18 percent this year, according to fund managers and analysts surveyed this month by Bloomberg.
“It’s a combination of Australia, plus continued deliveries of capesizes,” Philippe van den Abeele, managing director of Castalia Fund Management (U.K.) Ltd. in London, said by phone. “We are down to levels that are really hurting owners.”
Capesize rates declined today for a 17th session, the longest streak since November 2008. The capesize fleet’s carrying capacity expanded by 23 percent last year, according to an estimate by Clarkson Plc, the world’s biggest shipbroker.
Negative Rate
The lack of cargoes in the Pacific Ocean has led some shipowners to cover part of clients’ costs in an effort to hire out vessels. Costs on the C11 journey for shipments to Europe from Asia were at minus $825 a day today, compared with minus $879 yesterday. The rate went negative on Jan. 13, a first for any dry-bulk voyage reported by the exchange, which publishes daily assessments for more than 50 routes.
The vessel surplus stems from orders placed in 2007 and 2008, when daily capesize income averaged about $111,000. Rates reached a record $233,988 in June 2008 before plunging 99 percent over the next six months to $2,316 as economies entered the first global recession since World War II.
Rates to hire panamax vessels that compete with the larger capesizes for coal and iron-ore cargoes and also ship grains fell 3.5 percent to a daily $14,166 today. Supramaxes gained 0.5 percent to $15,023 and handysizes rose 0.7 percent to $11,402.
--Editors: Dan Weeks, John Deane.
Link to the original article: http://www.businessweek.com/news/2011-01-19/dry-bulk-shipping-extends-2011-drop-to-20-on-australia-floods.html
Subscribe today to www.myhighdividendstocks.com/feed to discover high dividend stocks like Safe Bulkers Inc. (SB) with earning power and strong balance sheets.
Be seeing you!