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

Core Viewpoint - Safe Bulkers, Inc. has authorized a share repurchase program allowing the company to buy up to 10,000,000 shares of its common stock, representing approximately 9.8% of outstanding shares and 20.0% of its public float [1][2]. Group 1: Share Repurchase Program - The program does not obligate the company to purchase shares and can be modified or terminated at any time without prior notice [2]. - Purchases will be made in the open market in compliance with applicable laws and regulations, specifically under Rule 10b-18 of the Securities Exchange Act of 1934 [2]. - The repurchase will be funded using the company's existing cash resources and supersedes any prior repurchase program [2]. Group 2: Company Overview - Safe Bulkers, Inc. is an international provider of marine dry-bulk transportation services, focusing on transporting bulk cargoes such as grain, coal, and iron ore along global shipping routes [3]. - The company's common stock and preferred stocks are listed on the NYSE under the symbols "SB", "SB.PR.C", and "SB.PR.D" respectively [3].