Safe Bulkers intends to pay their stockholders quarterly dividends of $0.475 per share, or $1.90 per share per year, in February, May, August and November of each year. The Company declared on November 4, 2008 a cash dividend on its common stock of $0.475 per share payable on or about November 28, 2008 to shareholders of record at the close of trading of the Company's common stock on the NYSE on November 21, 2008. This is the second consecutive cash dividend of the company since its listing on the NYSE on June 3, 2008.
Safe Bulkers's board of directors may review and amend their dividend policy from time to time in light of their plans for future growth and other factors. The Company cannot assure you that they will be able to pay regular quarterly dividends in the amounts stated above. The Company's ability to pay dividends will be subject to the restrictions in their credit facilities and the provisions of Marshall Islands law.
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