Safe Bulkers adopts program to repurchase 8% series C, D preferreds

By Wendy Van Sickle

Columbus, Ohio, March 19 – Safe Bulkers, Inc. authorized a share repurchase program under which it may from time to time purchase up to 100,000 shares of its 8% series C cumulative redeemable perpetual preferred shares and up to 100,000 shares of its 8% series D cumulative redeemable perpetual preferred shares.

Each series has a liquidation preference of $25 a share.

As of Thursday, Safe Bulkers has 2.3 million of the series C and 3.2 million of the series D preferred outstanding.

Safe Bulkers provides marine drybulk transportation services. The company is based in Monaco.

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