Safe Bulkers, Inc. Announces a Three Million Shares of Common Stock Repurchase Program

Core Viewpoint - Safe Bulkers, Inc. has authorized a share repurchase program allowing the purchase of up to 3,000,000 shares of its common stock, representing approximately 2.8% of outstanding shares and 5.4% of public float [1][2]. Company Overview - Safe Bulkers, Inc. is an international provider of marine drybulk transportation services, specializing in transporting bulk cargoes such as coal, grain, and iron ore along global shipping routes [3]. - The company's common stock, Series C preferred stock, and Series D preferred stock are listed on the NYSE under the symbols "SB," "SB.PR.C," and "SB.PR.D," respectively [3]. Share Repurchase Program Details - The share repurchase program does not obligate the company to purchase any shares and can be modified or terminated at any time without prior notice [2]. - Purchases will be conducted in the open market in compliance with applicable laws and regulations, specifically within the safe harbor provisions of Regulation 10b-18 under the Securities Exchange Act of 1934 [2]. - Funding for the repurchases will come from the company's existing cash resources [2].